XRP Plunges Without Clear Catalyst as Investor Sentiment Freezes

▲ Ripple (XRP)

XRP (Ripple) has broken below a key technical support level and continues to struggle in a downtrend, with a bleak outlook suggesting that the risk of further declines will increase if buying pressure does not return quickly.

As of February 19 (local time), according to cryptocurrency data platform CoinMarketCap, XRP is trading at $1.43, down 2.76% over the past 24 hours, underperforming the broader market’s weak trend. The primary cause of this decline is analyzed as a breakdown in technical structure after falling below the 61.8% Fibonacci retracement level at $1.46.

XRP is currently trading below its 7-day simple moving average of $1.45 and its 30-day simple moving average of $1.62, clearly reflecting bearish momentum. The Relative Strength Index (RSI), which stands at 39, also confirms that selling pressure outweighs buying interest, suggesting that disappointment-driven selling could emerge among momentum-based traders after the failure to hold technical support. A daily close above $1.46 is required to invalidate the immediate bearish breakdown pattern.

Notably, there are no clear negative developments or regulatory issues specific to XRP that would explain its underperformance against Bitcoin (BTC). While bearish claims on social media point to a 90% drop in XRP Ledger payment volume, this has not been verified by contextualized on-chain data, indicating that the price is being weighed down more by technical trends and a lack of catalysts than by any single event.

In the short term, market direction hinges on whether XRP can reclaim the $1.46 level. Failure to retake this level could expose the token to further downside toward the next Fibonacci support at $1.32. Conversely, to signal a shift in momentum, XRP would need to push above the 7-day simple moving average near $1.45 and then rally toward the 50% Fibonacci retracement level at $1.56.

The market is now at a critical juncture around the $1.46 level, where XRP bulls must prove their upward momentum. Investors should closely monitor Bitcoin’s price action, which could amplify selling pressure across altcoins, as the ability to reclaim and hold above $1.46 within the next 24 to 48 hours will be crucial in preventing further technical deterioration.

Disclaimer: This article is for investment reference purposes only, and we are not responsible for any investment losses arising from its use. The content should be interpreted for informational purposes only.