Ripple Price Analysis: Will XRP Drop to $2.1 After a Failed Breakout?

Ripple's XRP has not been able to replicate the record gains of Bitcoin and Ethereum over the past few weeks, as the price is consolidating and falling against both USDT and BTC. However, there is still potential for a stronger bullish movement until certain key levels are not lost. Technical Analysis of XRP Price USDT pair The daily timeframe of the XRP/USDT pair shows the hesitation and fear of XRP investors, as the price fails to break through the resistance level of 3.40 USD, while other competitors have been bullish and set new all-time highs. However, with the support level of 2.80 USD still intact, along with the 100-day and 200-day moving averages located just below this area, the bullish structure is still being maintained. Meanwhile, the RSI index has rapidly declined since it showed an overbought value in July and has recently dropped below 50. This is a clear sign that the downward momentum is shifting, indicating the possibility of a decline to the support area of $2.80. In the event that this level is broken to the downside, XRP will create a lower low and is likely to also break through the mentioned moving averages and experience a much deeper retracement to the $2.10 range in the near future.

BTC pair Switching to the XRPBTC chart, the situation looks a bit more optimistic for XRP. This asset has broken out of a multi-month descending channel after a nearly vertical bullish move in July, while also leaving both the 100-day and 200-day moving averages behind. These DMA moving averages are currently converging around the support level of 2,400 SAT, creating an important price zone that could push prices higher once again and end the recent downtrend. However, it is worth noting that, unlike the USDT pair, the 100-day and 200-day moving averages have not yet created a golden cross, and with the RSI falling below 50, the market structure is still not fully favorable for buyers.

Therefore, maintaining the 2,400 SAT level is more important than ever, as this level could initiate the next bullish rally or breaking it could cause a significant drop, potentially pulling XRP below 2,000 SAT in the short term.