XRP Price Drops 5%: Key Support and Bearish Trends Explained

XRP price action has printed a series of bearish daily candles, indicating a potential downtrend. XRP has dropped 5.4% in 24 hours and trades at $2.39. The eminent launch of RLUSD and approval of XRP ETFs under Trump could push XRP higher. XRP has dropped 5.44% in the past 24 hours, trading at $2.39, holding a market cap of $136.44 billion. This decline moves XRP out of the top three cryptocurrencies, sliding to be the fourth-largest by valuation. While XRP rallied to $2.70 during the recent market upswing, it failed to sustain the momentum, retreating from the $3 milestone. CoinMarketCap data shows that XRP remains up 320% over the last 30 days, despite undergoing what analysts describe as a necessary correction. Key Bearish Indicators for XRP The daily chart reveals a downtrend forming as multiple candles closed below previous highs. This pattern signals reduced buying demand and increased profit-taking, which limits upward movement. Another major bearish signal is the possibility of a bearish divergence on the MACD (Moving Average Convergence Divergence) indicator. The signal line and the MACD line are coming very close to each other and if the… The post XRP Price Drops 5%: Key Support and Bearish Trends Explained appeared first on Coin Edition .