XRP has seen a 4.63% decline over the past 24 hours, with the price currently hovering around $2.19, according to data from CoinMarketCap.
The drop comes amid conflicting technical signals and growing speculation about XRP’s next major move.
Bearish Signals: Breakdown Below 200-Day Moving Average
According to a chart shared by Coin Bureau, XRP has fallen below its 200-day moving average, a level widely viewed as a key support in trend analysis. Technical analysts often interpret such a breakdown as a bearish signal, potentially paving the way for further downside.
Bullish Contrasts: “Final Pump” Predictions and Breakout Claims
Despite the dip, several bullish voices remain optimistic. Crypto analyst Steph Is Crypto multiple charts on May 30 suggesting XRP is entering a “final pump” phase, referencing similar past patterns.
In another tweet, Steph highlights that XRP has broken out across multiple global pairs, including USD, EUR, JPY, and CNY charts — reinforcing a view of multi-market bullish momentum.
Diverging Narratives Create Volatility
This divergence between bullish pattern expectations and bearish technical breakdowns reflects the current volatility surrounding XRP. With traders split between anticipating a breakout and bracing for deeper correction, the market is on edge.
On-Chain & Market Metrics
- Market Cap: $128.69B (down 4.16%)
- 24h Trading Volume: $3.53B (up 32.44%)
- Circulating Supply: 58.68B XRP out of a 100B max supply
The sharp increase in trading volume suggests heightened activity — a common feature during periods of trend reversal or continuation.
What’s Next for XRP?
Adding to the mix, Coinbase Institutional announced it will enable 24/7 futures trading for XRP starting June 13, which could increase speculative activity and volatility in the short term.
Key levels to watch
Support: $2.10 – $2.15 zone
Resistance: $2.30 – $2.45 range
Conclusion
XRP is at a technical crossroads. While some analysts call for a massive upside breakout, others warn of more downside following the breach of long-term support. With futures trading set to go live in mid-June, traders should expect increased volatility, and potentially, a decisive move in either direction. Caution is warranted until a clearer trend emerges.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/xrp-drops-4-in-24-hours-here-is-what-could-be-next/