- XRP price fell 2% to $2.04 as Bitcoin pulled back towards $90,000.
- The XRP token jumped to $2.40 last week, helped by record ETF volumes.
- Bulls need to defend $2 or risk falling to $1.80 or lower.
XRP saw a modest pullback, easing about 2% as it moved toward the key support level of $2.00.
The retreat comes as recent bullish momentum in the token shows signs of cooling. Bitcoin also slipped during the session, alongside a pullback in stock futures.
Despite the near-term price pressure, development activity at Ripple and signs of institutional demand remain intact.
XRP price revisits support near $2: why the downturn?
XRP fell about 2% over the past 24 hours, touching an intraday low of $2.04.
The move extends the pullback from recent highs near $2.40, with market participants flagging a potential new supply zone around the $2.10 level.
Trading activity remained elevated, with 24-hour volume at 2.94 billion, reflecting heightened participation amid broader market volatility.
The weakness in XRP came alongside a pullback in Bitcoin, which retreated from above $92,000 after investors reassessed risk following comments from Jerome Powell.
In a statement released on Sunday, Powell said the Federal Reserve had received grand jury subpoenas from the Department of Justice.
Stock futures declined after Powell characterised the subpoenas, linked to his Senate testimony, as an attack on the Fed’s independence.
Futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq all moved lower, as markets reacted to the prospect of political pressure on monetary policy.
Risk-averse sentiment spread across asset classes, including cryptocurrencies, while gold climbed to fresh record highs.
XRP has remained under pressure in this broader risk-off environment.
Ripple price forecast
XRP gained to above $2.40 last week amid bullish regulatory news from the UK.
Gains nevertheless faded, even as XRP exchange-traded funds continued to record inflows and saw record trading volumes.
Technical indicators point to rising selling pressure.
Signals from the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) suggest momentum is weakening, and a daily close below the $2.00 level could accelerate the downside.
Against this backdrop, XRP’s price action reflects a balance of optimism and caution, contrasting with the broader outlook for risk assets amid lingering macroeconomic and geopolitical uncertainty.
Chart patterns also indicate further downside risks. The daily RSI is hovering around 50, a neutral level, but has turned lower, signalling fading momentum.
The MACD, meanwhile, is pointing toward a potential bearish crossover.
If confirmed, it could trigger additional selling before any reversal takes hold. Immediate support is seen near the $1.80 level.
On the upside, sustained ETF demand, falling exchange reserves, and continued institutional interest could help stabilise prices.
In a recovery scenario, traders are likely to watch $2.40 and $2.50 as key resistance levels, with a short-term upside target around $3.00.
