XRP Price Faces Key Support Test After Selling Jumps 48%

XRP price trades near $2.15 today after dropping over 18% since November 10. The token has spent the past month moving inside a bearish channel. And the latest structure now shows weakening volume, rising long-term selling, and the price sitting close to a key support.

If buyers fail to defend one level, the XRP price could slide into a deeper leg of its downtrend.

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Falling Channel and Volume Breakdown Strengthen the Bearish Setup

XRP continues to move inside a descending channel that has guided every bounce and rejection for more than a month. This pattern is a bearish continuation structure, and the recent candles show that each recovery attempt is getting weaker.

This weakness is most visible in the On-Balance Volume (OBV) indicator. OBV adds volume on green days and subtracts it on red days to show whether buying or selling pressure is dominating. Between November 4 and 9, OBV briefly moved above the descending trend line connecting its lower highs. The XRP price responded with a quick short-term bounce.

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But once OBV slipped back below the trend line on November 12, the tone changed. The indicator has stayed below that trend line since, showing that market-wide buying pressure has continued to weaken. This aligns perfectly with the price action: XRP began its 18.6% decline on November 10, the same window in which OBV started curling downward again.

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The lack of volume strength means buyers are not stepping in with conviction. That sets the stage for the next metric.

Long-Term Holders Are Increasing Their Selling

Glassnode’s Hodler Net Position Change tracks how much long-term holder supply is entering or leaving exchanges and wallets. It is one of the clearest measures of long-term conviction.

Over the past few days, long-term holders have sharply increased their selling again after dipping to the lowest fortnightly level on November 16:

• Nov 16: –63.57 million XRP
• Nov 18: –94.50 million XRP

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Now, that’s a 48.6% rise in long-term outflows in just two days.

This confirms that the pressure shown on OBV is not random noise. It comes at the same time that long-term holders are reducing their positions more aggressively. When long-term seller activity rises while volume weakens, it typically signals a market that has not found its bottom yet. And that view keeps every nearby support level at risk.

Together, OBV and Hodler Net Position Change point to the same idea: buyers are not absorbing the increased selling pressure.

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XRP Price Levels That Matter Most

The XRP price now sits close to the most important support on the chart: $2.10. This level has acted as a reaction zone multiple times inside the falling channel. If the daily candle closes below $2.10, XRP could extend its move toward $1.77, the long-term channel floor.

On the upside, the level that must be reclaimed to invalidate this bearish setup is $2.41. Clearing $2.41 would show that buyers have regained strength and would open the path toward $2.58. Only a daily close above $2.58 would flip the short-term trend back to bullish.

Right now, the structure still leans negative. Volume is weakening. Long-term holders are selling faster. And the XRP price remains inside a falling channel. Unless XRP reclaims $2.41, all eyes stay on $2.10. This fragile floor decides whether XRP stabilizes or enters a deeper slide.