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XRP Price Slips as Bearish Chart Pattern Points to $2.00 Target
Market sentiment shifts as XRP faces critical support test amid global economic uncertainties and upcoming token unlock.
Updated May 20, 2025, 6:27 p.m. Published May 20, 2025, 4:13 p.m.
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What to know:
- XRP faces critical test at $2.30 support level as head-and-shoulders pattern signals potential drop to $2.00, according to CoinDesk Research's technical analysis data model.
- Geopolitical tensions and trade disputes amplify cryptocurrency market volatility, with XRP declining 3.38% from recent peak of $2.411.
- CME Group's planned launch of XRP futures fails to boost price amid broader market uncertainty and upcoming one billion XRP token unlock.
Global economic uncertainties are weighing heavily on cryptocurrency markets, with XRP experiencing significant selling pressure after failing to maintain momentum above $2.40.
The digital asset has formed a bearish head-and-shoulders pattern on short-term charts, with high-volume selling emerging precisely when testing key resistance levels.
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Multiple analysts, including Ali Martinez, warn that losing the critical $2.30 support could trigger a substantial decline toward the $2.00 mark.
Technical Analysis Highlights
- XRP formed a distinct head-and-shoulders pattern after rallying to a peak of $2.411 before declining 3.38% to $2.330.
- Significant resistance established at the $2.40 level with high-volume selling pressure.
- Support at $2.345 was tested multiple times before breaking during the 13:00 hour with volume surging 23% above the 24-hour average.
- Price declined from $2.341 to $2.329 in the last hour of trading, representing a 0.5% drop.
- Significant volume spike occurred at 13:35 when price plummeted from $2.345 to $2.337, accompanied by over 2.1 million in volume.
- Multiple failed attempts to recover above $2.340 between 13:38-13:41 created a lower high pattern.
- Renewed selling pressure emerged at 13:47-13:50, driving XRP to session lows near $2.326 with elevated volume confirming distribution.
External References
- "XRP flashes crash signal with drop to $2 in sight", Finbold, published May 19, 2025.
- "XRP Price Prediction for May 20", Coin Edition, published May 19, 2025.
- "2 Critical Warnings for Ripple’s Price: Details", CryptoPotato, published May 19, 2025.
- "XRP Price Confirms Bullish Reversal Setup With This Demand Zone", NewsBTC, published May 20, 2025.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
