Just a few days ago, the price of XRP witnessed a drop of around 44% in just four days. Now this puts many questions in the minds of the observers—does it keep following this trajectory or even starts to rebounding? All important technical analysis and historical movements suggest further downward price correction for XRP unless a few important support levels are claimed.
Downward Movement of XRP price CorrectionÂ
On February 2, XRP dropped and closed below the Simple Moving Average (SMA) 50 day at $2.61 which is critical breakdown and in the past has happened as well. Such breaches have often happened repeatedly in the past with decline and in August 2023 XRP lost this level and it led to a drop of 31% which is significant. May 2021 similarly offered a worse case scenario with a 71% drop for XRP followers.
With the track record, if history is set to repeat itself, deeper corrections are due for XRP followers in the upcoming days. In order to avert this scenario, bullish followers and analysts need to immediately bring the price above the 50 day SMA.
XRP bulls lose momentum as Trump’s crypto order fails to boost price!$XRP faces strong resistance: Will bulls push past $2.80?https://t.co/NEVe4jjWDi
— Crypto Data Space (@cryptodataspace) March 7, 2025
We have reason to expect a fall, as both asymmetrical triangles suggest one.Â
Through the rise of $1.60 on the lower triangle, XPR bulls advanced were purchasing around on the triangle’s upper boundary, speculating profits from a sharp sell-off down to $1.45. Both the lower measure of the upper triangle and the upper boundary of the new symmetry lower triangle measure suggest an aggressive fall to the 100 days SMA’s assault area on which london is trading above the 20- and 50 days SMA.Â
Viewing these measures logically build together sentiment to buy below $1.45 and thinly below it. Which has primary target at the merging downtrend boundaries. Reversal without extensive resources toward the range marks down to $1.60. The pair of targets set over it clearly suggests exploitation of upward sentiment for hard fall to the 1.45 mark, but without tolerance to secure profits high sets belt support towards $3.75. So the longer XAAP lingers, the higher the drop will glaringly take form.
Breaching the borders suggest using aggressive elements of a stop and reverse measure prior to securing it. The said measures facilitate shift towards neutral at first sight. But in regards to notability, neutral generally ting material sentiment.
To wrap things up:
Once the XTC stops the fall and snapes the new range border around $1.45, it is likely to soar towards $3.75 .
Coming into the assault zones a bit lower than the big 100 day SMA with the targets at mark $3.25 and the main one at $3.75
A more substantial drop after breaching the new border is sustained by every day fundamental data pouring from the market.
Conclusion
After the most recent drop, XRP traders are anticipating a continuation of corrections. However, if the buyers manage to take control and push the price beyond the primary resistance zones, then a bullish recovery could be in play. As always, market movements and support levels need to be closely monitored during this period of high volatility.
