XRP (XRP-USD) has been sinking toward a key level and holders are asking the same question. Can it bounce back, or is it headed for another drop? The token has fallen almost 25% in the past month after peaking near $3.66. Now it is clinging to $2.80, a price that may decide where things go next. The dream of turning a small bet into millionaire money is fading fast at these levels.
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XRP Tests $2.80 as Holders Brace for September
Right now, $2.80 is the key level. Glassnode data shows that more than 1.7 billion XRP were bought in the range between $2.81 and $2.82. If the price falls below that cluster, those holders will be sitting on losses. That often sparks more selling as people rush to protect what profits they have left.
If that support fails, the charts point to the next big floor around $1.73, which is the 0.5 Fibonacci retracement level. This same level acted as a hard bottom earlier in 2025, making it a natural spot for buyers to step in again. But a trip down there would crush the idea that XRP is anywhere close to creating overnight millionaires.
XRP’s Technical Indicators Flash Bearish Signals
The weekly MACD indicator is close to making a bearish crossover. When the faster-moving line drops below the slower one it signals fading momentum. In past cycles, this crossover has led to 50 percent or more declines for XRP.
If history repeats, XRP could drop toward the 50-week EMA at about $2.17. That would be a 25 percent slide from current levels. A deeper move below $1.73 would confirm a full bear market, with the 200-week EMA near $1.19 as the final line of defense. That path makes millionaire dreams look more like long shots than real opportunities.
XRP Bulls Still Have a Chance to Defend
For XRP bulls, the task is to defend the price by holding at $2.80, and avoiding a close below the 50-week EMA. The good news is that XRP has bounced from this EMA before. Since July 2024, every time the price has tested it, buyers have returned to push it higher.
If that pattern holds again, XRP could avoid the deeper collapse and set up another push toward $4. Some analysts argue that the recent pullback is just a distribution phase before the next big breakout. A rally from here would not mint millionaires overnight, but it could restore confidence that XRP is still alive and moving higher.
Should You Really Care about the $2.80 Price Level?
The $2.80 price level represents a dividing line between confidence and capitulation. If it holds, XRP can stabilize and rebuild momentum. If it breaks, the selling pressure could accelerate fast.
For traders hoping to see XRP create millionaires quickly, the reality is harsher. At $2.80, the token is more about survival than instant riches. The path higher still exists, but it requires patience, strong hands, and the acceptance that millionaire gains are not built from a price that is fighting to stay above its grave.
At the time of writing, XRP is sitting at $2.8048.
