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.