The cryptocurrency market witnessed a significant downturn over the last 24 hours, and XRP was among the hardest hit. In a brutal sell-off, the price of XRP has plummeted by over 10%, slipping below the critical $2 mark. This decline came amid a broader market crash that wiped out nearly 5% of the total global crypto market cap, bringing it down to $3.04 trillion. Major assets like Bitcoin and Ethereum also experienced sharp declines, with Bitcoin retreating to around $99,000—down over 4%—and Ethereum shedding more than 10% of its value to trade near $2,179. Other altcoins such as Solana, BNB, Dogecoin, and Cardano have also registered losses between 4% and 9%, contributing to a wave of bearish sentiment. The Fear and Greed Index, a key indicator of market sentiment, has dropped to 40, clearly reflecting increased investor anxiety and growing risk aversion.

XRP’s downward trajectory is particularly concerning as it broke below a crucial support level at approximately $2.07. Analysts had previously identified this range as a critical point for XRP to maintain its short-term bullish outlook. With that level now breached, market experts are turning their attention to the next zone of potential support, which lies between $1.92 and $1.95. Should XRP continue its slide and drop below $1.91, further downside targets emerge near the $1.80–$1.79 region. This area corresponds with previous price action patterns and key Fibonacci retracement levels, indicating a potential floor where buyers may re-enter the market. However, as of now, no clear bullish signals have formed to suggest an imminent reversal.

On the technical front, the short-term charts are not offering much optimism. Many traders were closely watching for a bullish divergence to emerge, particularly in RSI or MACD indicators, which would suggest that bearish momentum is weakening. Unfortunately, no such confirmation has materialized, and the indicators continue to point toward bearish pressure. The RSI on several timeframes is trending lower, indicating that XRP is still in oversold territory but without the relief bounce that many investors were hoping for. Without a convincing recovery in sight, the prevailing trend remains bearish.

Adding to the complexity is the rise in Bitcoin dominance, which often signifies that capital is rotating out of altcoins like XRP and into more established cryptocurrencies like Bitcoin. While Bitcoin’s fall to $99,000 has also been painful, its smaller relative loss compared to altcoins underlines a defensive shift among investors. Historically, when Bitcoin dominance increases during a downtrend, altcoins tend to underperform, which is exactly what’s happening with XRP.

Global macroeconomic and geopolitical factors are also playing a major role in the current downturn. Rising global tensions and a cautious U.S. Federal Reserve have created an unfavorable environment for risk assets. The Fed’s recent decision to hold off on cutting interest rates has added to market uncertainty. Analysts have noted that this hesitation stems from heightened instability in global markets, made worse by ongoing geopolitical events, which have further dampened investor sentiment.

While XRP’s fundamentals remain solid in the long run, with ongoing developments in cross-border payment solutions and Ripple’s expanding global partnerships, the near-term price action is dominated by fear and market volatility. The lack of bullish catalysts and continued pressure from macro factors suggest that XRP may struggle to recover above the $2 mark unless Bitcoin stabilizes and broader market sentiment improves.

For now, XRP investors are advised to closely watch the $1.91 support level. A breakdown below this zone could accelerate selling pressure and bring prices closer to the $1.80 range. On the other hand, if XRP manages to hold current levels and forms a base around the $1.95–$2 range, it may attempt a gradual recovery. However, without confirmation of trend reversal, the immediate outlook for XRP remains cautious and bears are likely to stay in control.