XRP is currently experiencing an unrelenting and severe price collapse, with its market structure completely unraveling. The cryptocurrency has plummeted through critical support levels, signaling a deeply entrenched bearish trend and leaving little in the way of immediate defense against further significant declines.
Market Structure Collapses Amidst Steep Decline
XRP is trading around $2.23, registering one of its most aggressive multi-day declines in recent months and losing nearly 25% of its value since October 1st. This dramatic fall has seen the asset breach all major support levels, including its 50-, 100-, and 200-day moving averages, unequivocally confirming a solidified bearish momentum. A pivotal breakdown occurred when XRP decisively fell below the $2.50 mark, a level that had previously provided some stability. Below this threshold, historical liquidity is notably scarce, pushing XRP into price ranges largely "unexplored" by bullish activity. Sharp volume spikes accompanying the initial crash point towards forced liquidations and widespread panic selling, classic indicators of a market capitulation phase.
Bleak Technical Outlook and Path to $1.00
Technical indicators further reinforce the bleak outlook. The Relative Strength Index (RSI) hovering near 29, while technically indicating oversold conditions, primarily signals exhaustion rather than an imminent reversal. This type of momentum collapse frequently precedes protracted downtrends, particularly after the loss of structural support. The path of least resistance for XRP remains firmly downward; a swift recovery to the $2.60-$2.70 region is deemed essential but unlikely given the severity of the sell-off. Even the next potential demand zone between $1.80 and $1.90 appears precarious. Analysts are increasingly anticipating a complete retest of the $1.00-$1.20 range, a price point last observed before the mid-year rally, as the market runs out of floors. Without any immediate catalysts or strong support levels to halt the decline, the psychological threshold of $1.00 is now considered a sensible and increasingly probable next step in XRP’s descent.
