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.
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 (XRP) Price Prediction for May 20“, Coin Edition, published May 19, 2025.
- “2 Critical Warnings for Ripple’s (XRP) Price: Details“, CryptoPotato, published May 19, 2025.
- “XRP Price Confirms Bullish Reversal Setup With This Demand Zone“, NewsBTC, published May 20, 2025.
Market sentiment shifts as XRP faces critical support test amid global economic uncertainties and upcoming token unlock. Markets, AI Market Insights, Technical Analysis, XRP, News CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
