XRP Could Fall Below $2 This Week—Here’s What You Need to Know 👇

The crypto market experienced a wave of selling pressure on January 8 as Bitcoin ($BTC) neared a potential breakdown at $90K. However, XRP showed some resilience, bouncing 4% despite the broader market correction and managing to hold above key support levels.

Currently, XRP is trading at $2.36, with a market cap of $135.2 billion and a 24-hour trading volume of $7.5 billion.

XRP Price: $2.3453 (+1.52%)

What’s Happening with XRP?

• XRP is stuck in a short-term consolidation phase, forming a pennant pattern—a structure that often signals a potential breakout or breakdown.

• Crypto whales have been offloading XRP in large quantities. Over the past 24 hours, they’ve sold more than 60 million tokens, according to data from Santiment. This selling activity increases the risk of a price breakdown.

Could XRP Lose $2 Support?

If the market correction continues, XRP’s price could drop by as much as 10%, breaking below the lower trendline of its pennant pattern. A breakdown like this would likely trigger more selling pressure, potentially driving the price down to $1.12.

The Bottom Line

XRP’s resilience has been tested by significant whale activity and a challenging market environment. While it’s holding above $2 for now, traders should be prepared for potential volatility ahead.

Disclaimer: This is not financial advice. Always do your own research before making any investment decisions.