Why XRP Price Falling Below $1.93 Could Change the Short-Term Market Structure

After failing to break out, XRP fell below a key technical level with massive trading volume, confirming a shift in short-term control to the bears.

News Background

In the past 24 hours, XRP dropped 2.6%, falling from $1.95 to $1.90, as the overall cryptocurrency market showed signs of weakness. Previously, XRP made several unsuccessful attempts to break through recent resistance levels, leading to another test of support and leaving its trend vulnerable.

This sell-off was not triggered by any new fundamental factors. Instead, it occurred in a technically sensitive area, following previous rebound attempts that led to position build-up. The price stagnated near resistance, selling pressure re-emerged, and during the European trading session, sellers overwhelmed buyers.

Technical Analysis

The break below the $1.93 Fibonacci level marks a clear technical failure. This area previously acted as a key pivot during consolidation, and its breach has shifted the short-term structure in favor of sellers.

During the price decline, trading volume surged sharply, soaring 107% above the daily average, confirming that the drop was driven by active selling rather than a lack of liquidity. The price attempted to rebound to $1.95 with strong initial momentum, reaching new highs, but failed to hold above $1.92, triggering systematic selling on rallies.

Structurally, XRP's price action has shifted from range expansion to range contraction. As long as the price remains below the $1.93 to $1.95 range, any upward attempts will only serve as corrections and will not change the prevailing trend.

Price Action Overview

XRP traded within a $0.09 range during the day, initially approaching $1.95 before sharply pulling back. After falling back to the $1.92 to $1.94 range, selling intensified, and buying interest near the lower band also visibly decreased.

After the sharp drop, XRP stabilized around $1.90, with selling pressure easing and trading volume beginning to return to normal. The hourly chart shows consolidation above the $1.88 to $1.90 area, but no clear reversal signals have emerged yet.

What Traders Should Know

The $1.93 level currently constitutes the first major resistance. Any rebound attempts must reclaim this area with increased volume to restore neutral momentum. Otherwise, downside risks remain.

On the downside, the $1.88 to $1.90 range is the key area to watch in the near term. If the price continues to fall below this range, deeper support levels may be exposed; if this support holds, XRP may consolidate before the next directional move.

At present, trading volume trends remain crucial. Persistent selling during rebounds will confirm ongoing distribution, while weakening volume near support suggests the market is shifting from collapse to stabilization.