XRP’s recent price surge to $2.95 has given way to corrective pressure following Bitcoin’s sharp market decline and heightened volatility. Technical indicators signaled vulnerability as XRP’s Relative Strength Index peaked at 77 – well into overbought territory – prompting significant profit-taking activity among traders.
The correction intensified after Bitcoin plunged over $6,000 within hours, dragging major altcoins including XRP downward. Market dynamics were further influenced by a whale transaction involving 16,000 BTC ($2 billion) routed through Galaxy Digital’s OTC desks.
Despite current selling pressure, technical support levels remain intact. XRP continues trading above critical moving averages, with the 50-day EMA at $2.27 and 200-day EMA at $2.15 forming potential defense lines against further decline.
Short-term price trajectory hinges on Bitcoin’s stability. Should market conditions recover, XRP could retest resistance between $2.70-$2.80. Conversely, extended volatility may push prices toward the $2.50 support level. Sustained recovery requires XRP to reclaim the $2.95 threshold with strong volume confirmation.