XRP Price May Drop to $2.15 if Buyers Fail to Support Rally

In my view, XRP has recently experienced a significant rally fueled by substantial buying activity, leading to a new seven-year high. However, the subsequent price decline indicates that the momentum may be waning, driven partly by a general bearish sentiment across the cryptocurrency market, which has also affected Bitcoin's difficulty in reclaiming its previous all-time highs. This broader market weakness naturally puts pressure on altcoins like XRP, making the price volatility more pronounced. From a technical perspective, the decline from recent highs reveals a decline in trading volume, dropping from over $78 billion during previous peaks to just above $41 billion in more recent attempts. This suggests a loss of buying conviction at higher prices, hinting that the rally was perhaps driven by a limited pool of aggressive traders rather than widespread institutional support. Interestingly, the absence of significant selling pressure indicates that the current downward move might still be contained if buyers step back in, potentially setting the stage for a recovery towards $4.64. On the downside, the critical factor for XRP's future direction hinges on whether strong buying support can sustain the price. Failure to do so could lead to an accelerated drop, targeting levels as low as $2.15 to $2.3, which could present attractive entry points for long-term investors. In the worst-case scenario, if selling pressure intensifies and buyers withdraw completely, XRP could see a decline toward $1.60 to $1.93, presenting a potential buying opportunity for risk-tolerant traders looking for a significantly discounted entry. Overall, XRP's near-term outlook depends heavily on the strength of buyer support amid the current bearish atmosphere. If buyers maintain their interest and volume increases, a rebound is plausible; otherwise, a deeper correction could unfold, pushing the price to lower support zones.