Quick overview

Live XRP/USD Chart

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XRP is below $2 for the first time since May. XRP cratered Sunday as Bitcoin dropped below the 100,000 mark, Ethereum plunged 10% on the day, and assets fell to multi-month lows.
Price action showed the altcoin’s descending triangle pattern is getting closer, indicating an imminent breakdown when support erodes under stress.

XRP must regain the $ 2.2 mark to reverse bullish momentum. However, without a more universal market catalyst, the likelihood of XRP accomplishing this seems remote, endangering the future of the $2 mark.

The downward shifts came after the United States entered the conflict between Israel and Iran, with President Donald Trump announcing late Saturday that U. S. forces bombed three Iranian nuclear facilities in an attack dubbed Operation Midnight Hammer.

The move threatens to further inflame tensions in the Middle East, following recent back- and- forth attacks between Israel and Iran. Much like those attacks, the salvo from the United States is also impacting financial markets.
Despite some bullish stability around $2, the price of XRP may soon drop to $1.80.

Furthermore, the recent “death cross” formation has reinforced the bearish scenario by warning traders to be cautious.

A significant bearish trend may develop due to many traders holding short positions on XRP. Many derivative traders on Binance are betting on gains, and the long/short ratio is 2.45. If the price drops unexpectedly, this overly long position may make a bullish “squeeze” more likely.

Technical indicators for the Ripple token are still conflicting, even with its recent price recovery.

The formation of a descending triangle and ongoing rejections at the 50-day Simple Moving Average suggest that the price may fall below $2, possibly as low as $1 or 70. Amid this potentially pessimistic outlook, traders must maintain their vigilance.