Key Insights:
- XRP dropped 16.62% in 24 hours, falling from around $2.15 to $1.78 amid surging trading volume and selling pressure.
- Bitfinex’s LONG to SHORT ratio for XRP plunged 46.86%, from nearly 16 to 7.2329, indicating a sharp sentiment shift.
- XRP broke the $2.00–$2.20 support zone, completing a Head and Shoulders pattern with a projected target near $0.60.
XRP price recent plunge has generated strong interest from traders and analysts because critical support levels have broken down as market sentiment rapidly evolves.
XRP Price Records a 16% Drop Amid Selling Pressure
XRP price dropped by 16% in the last day to reach a price level of $1.78 from its previous value of $2.15. The price decline coincided with elevated trading activity, demonstrating intensified selling by traders. Analysts interpret this price movement as a major short-term reaction.
Notably, XRP has suffered a major price decline which contrasts sharply with its strong performance during the past months. XRP surged by more than 199% from last year, yet its recent dip has reduced its current price level. Its sharp increase occurred during Q4 2024 contributed to this long-term growth.
Sentiment Shift Evident in Bitfinex Long to Short Ratio
Meanwhile, market sentiment on Bitfinex has changed significantly as XRP’s trading ratio involving long positions versus short positions experienced a sudden decline. Market analyst Cole Garner reported the ratio increased from 9.5 to nearly 16 which demonstrated rising long positions among traders who believed the prices would go up further.
The ratio decreased by 7.2329 points, which resulted in a 46.86% reduction. The market shift indicates substantial sales of existing asset holdings combined with new short position acquisitions.
Besides, the measured bearish trading positions adopted by leverage investors indicate their expectation that the XRP price will continue declining. Market sentiment shifts occur from wider market direction changes together with trader projections about upcoming price changes.
Break Below Support Zone and Bearish Chart Formation
More so, XRP price broke through an established $2.00-$2.20 support area. The strong key support zone held an important value for technical analysis, and its breakdown has caused panic among traders. According to analyst Jesse Colombo, the price dip marks the completion of a Head and Shoulders formation pattern, which formed from mid-December 2024 until late March 2025.
In addition, the pattern’s structure became confirmed when XRP broke its neckline in early April. Based on technical indicators the upcoming support area for XRP price could reach $0.60. During this phase, the market may experience almost complete loss of all previous price increases.
Macro Factors Amid Price Decline
Technical market indicators have shown downward price trends. However, some experts disagree about whether this decline is solely caused by XRP-related news. Analyst Vincent Van Code identified some aspects of XRP price swings to wider market fluctuations and economic conditions. He observed external market forces pushing investor sentiment, which affects prices throughout multiple cryptocurrencies.
Moreover, Van Code stated that rapid movements within the XRP market potentially stem from strategic actions taken by major holders who liquidate their positions. According to his analysis, the conditions potentially drive retail investors to sell their assets in panic, speeding up market corrections.
Bearish MACD and Stochastic RSI
Other technical indicators have revealed XRP price could experience another downward movement soon. The 1-day Moving Average Convergence Divergence (MACD) indicator for XRP price has shown bearish momentum because the blue MACD line is below the orange signal line. The current short-term momentum signals bearish tendencies. The dominant red pattern in the histogram confirms that negative momentum persists, and the MACD line is moving progressively away from the signal line.
Additionally, XRP currently shows a 1-day Stochastic RSI value of 15.22, confirming an oversold condition in the market. The price appears close to a possible market correction based on current conditions. The low value warns about an additional price decline if the current trend continues.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.
