TL;DR
- Ripple’s cross-border token soared to $2.45 on Sunday, where it was violently rejected and pushed south to a key support level that could result in further losses if it’s lost.
- At the same time, a big whale with a substantial PnL has reduced their long XRP position.
Back to $2?
It was just this time last week when XRP’s price surged to a multi-month peak of almost $2.7. Although it was stopped there at first, the bulls initiated another leg up on Wednesday that resulted in touching $2.65. However, the breakout attempts saw little success, and the subsequent rejections pushed XRP down to $2.3 by Friday.
The asset recovered some ground over the weekend and even challenged the $2.5 resistance during the brief Sunday pump in the entire market, where it was stopped once again. As of now, Ripple’s token is back to $2.3, which is a critical support level, according to Ali Martinez, that has already been tested on a couple of occasions in the past few weeks.
If the asset breaks below it, though, the popular analyst predicted a further decline to $2, which is another key support line that has defended XRP numerous times since the start of the year.
$XRP could return to $2 if it loses the critical $2.30 support! pic.twitter.com/s6ozUyGYRC
— Ali (@ali_charts) May 18, 2025
Whale Watch Perps, an X account following big whales’ positions, informed that one such large market participant with an impressive PnL record has reduced their long XRP position, which could also be considered a bearish sign.
A top trader by PnL on Hyperliquid just reduced their long $XRP position
This user’s current position is long $54.96K of $XRP at an average price of $2.32.
— Whale Watch Perps (@whalewatchperps) May 19, 2025
The Good News
After the previous slip to $2.3, Martinez noted that XRP had flashed a buy signal on the hourly, according to the TD Sequential, which could mean a price reversal is on the horizon.
Additionally, Xoom said on X that the market interest in XRP has been “reset,” given the rising number of Google searches for the asset in the past week after a prolonged period of downtrend. According to the X user, price breakouts appear in precisely such moments.
Markets have reset their interest in XRP.
Breakouts occur when most are least interested in price action/ bored. pic.twitter.com/F0W3f9is2g— xoom (@Mr_Xoom) May 19, 2025
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