XRP, the popular cryptocurrency associated with Ripple, is once again in the spotlight—but this time, for its recent bearish price action. After a strong start to the year, fueled by legal wins and positive developments in the regulatory space, XRP is now facing downward pressure that could send it back toward the $2 mark.
What’s Happening With XRP Right Now?
XRP had been trading in a tight range over the past couple of weeks following a strong bullish run earlier this year. However, on May 28, 2025, XRP finally broke below that consolidation pattern—raising fresh concerns that the token could be on its way down to test the $2 support level.
On the hourly chart, the price broke under key levels near $2.27, a signal that bears might be gaining control. Analysts now believe the next major area of support lies around $2.10 to $2.00, which could act as a critical testing zone in the coming days.
Why Is XRP Facing Pressure?
The technical charts are flashing warning signs. The MACD indicator is showing growing bearish momentum, and trading volumes have started to fall, suggesting that traders may be stepping back for now. Despite strong fundamentals, such as a year-to-date gain and a growing derivatives market, XRP seems to be entering a cooling-off phase.
Adding to this, XRP recently hit resistance at $2.65—a level it struggled to break on two separate occasions. That “double-top” pattern is often seen as a bearish indicator, which could explain the recent retreat in price.
On the Bright Side: Futures and ETF Hopes
Not all news is negative. The CME Group recently launched XRP futures contracts—an important step toward bringing more institutional attention to the asset. The launch was well-received, with $19 million traded on day one, and it could help drive demand over time.
Moreover, traders are keeping a close eye on the SEC’s upcoming decision regarding an XRP exchange-traded fund (ETF). According to Polymarket data, there’s currently an 83% chance an XRP ETF gets approved before the end of 2025. If that happens, it could serve as the next big catalyst for price growth.
What Should XRP Traders Watch Next?
For now, the key levels to monitor are:
- $2.10 to $2.00 – Potential support zone
- $2.25 to $2.27 – Recent breakdown level that may now act as resistance
If XRP fails to hold above $2.10, we could see a further slide. But a bounce from these levels, especially if accompanied by a spike in volume, might spark a new rally.
Final Thoughts
XRP’s recent dip may look discouraging on the surface, but it’s not uncommon for crypto assets to go through consolidation and correction phases—especially after big gains. Long-term holders may see this as a chance to accumulate, while short-term traders should remain cautious and closely watch technical indicators.
With major developments like XRP futures and the potential for an ETF approval on the horizon, this could be a temporary pause before another big move.
