XRP Teeters at $2.35: Will It Soar or Sink Amid Market Volatility?

XRP (XRP-USD) is walking on a razor’s edge. The token slipped to $2.35 on Monday after briefly touching $2.40, as traders wrestled with whether this lull is a breather—or the beginning of a bigger drop. The latest price move marks a 6.5% drop from last week’s high, even as Bitcoin and Ethereum hold relatively steady.

The dip has sparked debate among analysts, especially after XRP failed to break through the $2.45 resistance level. XRP’s 24-hour range sits between $2.30 and $2.40, suggesting tightening pressure in both directions.

Traders Watch $2.30 Level for Support

Technical analysts are zeroing in on key thresholds. Support appears to be forming around $2.30, but if that cracks, the next wall stands at $2.15. A deeper slide to $2.00 isn’t off the table if broader crypto sentiment turns south. But if XRP can punch above $2.45, momentum could carry it back toward the $2.60 level—a mark it briefly flirted with last week.

Some traders are looking at a bounce play. Others are stepping back, citing the coin’s wild swings and potential long liquidations looming.

Broader Market Volatility Adds to Uncertainty

XRP’s price chop isn’t happening in a vacuum. Moody’s recent U.S. credit downgrade has sent Treasury yields higher, shaking investor appetite for speculative assets. Bitcoin is hovering near $102,000. Ethereum is back below $2,400. Across the board, altcoins are feeling the squeeze.

In that context, XRP’s failure to retest highs is raising questions. Has the upside run already peaked? Or is this just the calm before the next breakout?

While XRP bulls still believe in a return to $3 or more, near-term price action is sending mixed signals. Volume jumped 110% over the past 24 hours, according to CoinGlass—a clear sign that the tug-of-war between buyers and sellers is not over.

Until XRP clears $2.45 convincingly—or drops below $2.15—expect more whiplash in the coming days. At the time of writing, XRP is sitting at $2.35.