Heavy Pressure: Can XRP Drop to 2.58 USD Before Bouncing Back Above 3.25 USD?

XRP today is $2.81, with a 24-hour trading volume of $7,035,163,846. This Token has fallen 2.35% in the past day, ranking #4 in market capitalization with $166.89 billion. With 59.48 billion XRP in circulation out of a total supply of 100 billion XRP, this asset is approaching important support levels that could determine whether it will initiate the next bullish altcoin rally. Market Pressure Weighs Heavily On XRP Ripple's XRP is struggling to regain levels above $3.00. A broader cryptocurrency sell-off, triggered by Bitcoin's slide to a seven-week low and Ethereum's retreat after billions in options expired, has amplified the weakness across altcoins. Tokens like Cardano (ADA), Dogecoin (DOGE), and Sui (SUI) have also recorded significant losses. Macroeconomic disadvantages are increasing pressure. The Fed stated that interest rate cuts may occur more slowly than expected, with inflation and a strong U.S. economy meaning there is no appetite for risk. Wall Street tech giants dragged the stock market down after NVIDIA's AI outlook weakened, affecting risk sentiment. The cryptocurrency market capitalization dropped 3.3% in one day to $3.76 trillion. On-Chain Data Shows Weakness The fundamental factors of XRP have also weakened. According to CryptoQuant, the number of active addresses on the XRP Ledger has decreased from around 50,000 in mid-July to only 24,000 today, indicating that network activity is weakening.

The derivatives market also reflects this caution. The open futures contract volume decreased from $10.94 billion to $7.97 billion, indicating a decline in investor confidence. The total value of long position liquidations in the past 24 hours reached over $15 million, compared to only $1 million in short positions, showing that bullish bets are being liquidated at a faster pace.

Even the position of XRP in the market has changed. Recently, this token has fallen in rank compared to Tether (USDT) in terms of total market capitalization and has dropped out of the top 100 assets in the world by market capitalization. XRP Price Forecast: Support Level 2.58 USD is Being Watched The price prediction for XRP seems pessimistic, as XRP is consolidating in a descending channel. The price drop to nearly $3.25 in mid-August has allowed the bears to take control, with the token currently fluctuating around the Fibonacci retracement level of $2.79 ( support level 0.5).

Immediate support: $2.79, followed by $2.58 and $2.43 Resistance level: $2.99, $3.09 ( 50-day SMA ) and $3.25 Indicators: RSI at 41 indicates continued pressure but not yet oversold; MACD remains negative with an expanding histogram. Technically, XRP's immediate support levels remain near $2.79, $2.58, and $2.28. Above $2.99 and $3.25, $3.43. As long as it stays above $2.06, the trend has not been broken. If buyers can defend these support levels, XRP may re-emerge as a token that sparks growth momentum across the altcoin sector. Historically, XRP's bullish rallies have driven liquidity and confidence throughout the market - a trend that traders are closely monitoring as institutional and ETF speculation capital inflows increase.