Key Insights
XRP broke below $2.00 but remains inside a structural support range, preserving the larger cup-and-handle technical formation.
Exchange outflows and buyer-led spot trades signal absorption of selling pressure and restrict further downside risk.
Market behavior suggests controlled testing rather than panic-driven exit, keeping XRP stable near $1.80 support.
The cryptocurrency market began the week with steep losses, erasing over $100 billion in value within just 12 hours. The widespread decline reflected a sharp risk-off sentiment and forced liquidations in both spot and derivatives trading. Bitcoin dropped to nearly $92,000, while Ethereum lost 3%, trading around $3,200.
XRP was not spared during the drop and fell below the key $2.00 support level. The move followed a rejection near $2.30, which ended its recent recovery attempt. Despite this breakdown, the price action appeared more in line with broad market pressure than token-specific weakness. At the time of reporting, XRP is valued at $1.97, narrowly below its former support zone.
Technical Pattern Remains Structurally Intact
Although XRP lost the $2.00 level, technical analysis indicates that the broader cup-and-handle formation remains intact. Such patterns typically allow deeper retracements following market shocks. The current price zone, just below $2.00, still fits within the expected handle development area. Analysts previously projected a potential rise to $3.00 if XRP maintained support above $2.00, partly driven by Ripple’s $150 million deal with LMAX.
Source: TradingView
Price action near $1.80 has shown signs of buyer defense. A dragonfly doji formed during the recent session, indicating demand absorbed the selling pressure. This suggests stabilization rather than panic selling. The $1.80 level also aligns with the formation’s base and earlier liquidity zones.
Buyers Lead Market Behavior as Exchange Outflows Rise
On-chain data support the stabilization. CoinGlass reports net XRP outflows of around 5.74 million during the decline, reducing available sell pressure on exchanges. Spot taker volume shows a buyer-led profile, with more aggressive buying than selling. This reflects passive downward movement rather than active selling momentum.
The alignment of buyer-led trades with continued exchange outflows suggests a compressive price movement rather than an extended breakdown. As long as XRP remains above $1.80, the overall recovery setup remains in play. Sustained loss of this level, however, would shift the trend towards bearish territory.
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