Is XRP Cracking? Holders Grow Anxious as the $2 Level Comes Under Threat

XRP is under pressure after a 12% weekly decline that has pushed it below $2.15. On-chain metrics show signs of stress, with key support levels now in focus.

Sentiment Slides Into Anxiety

Long-term XRP holders are showing early signs of concern. Data from the Net Unrealized Profit/Loss (NUPL) metric shows a shift from euphoria to denial, now moving into anxiety. Analyst Ali Martinez said,

The sentiment change comes as many holders see their gains erode. If the decline continues, the next stage on the NUPL curve is fear, followed by capitulation.

Recent data shows that almost half of XRP’s supply is now held at a loss. This points to a market where late buyers face growing pressure. The token has also fallen into the oversold range, adding to short-term risk.

In the event of a further drop, on-chain positioning shows two main levels below $2.15. Around $1.91, about 1.9 billion XRP were last moved. At $1.73, roughly 1.8 billion tokens changed hands. These price points represent areas where many holders first entered the market.

They may act as support if the price continues to fall, as traders could be unwilling to sell below their cost. However, a move under $1.73 would place XRP in a zone with less support, opening the door to more downside.

Mixed Technical Views

CryptoWZRD noted XRP closed bullish on the daily chart. The analyst said jumping above $2.28 could trigger a move toward $2.41. If the price fails to hold, the chart could shift into sideways action.

EGRAG CRYPTO pointed to a bullish divergence on the 3-day chart, saying,

The divergence shows early strength, but it needs to be confirmed before any real move begins.

Repeat Pattern Remains Active

ChartNerd described a pattern that has repeated several times in XRP’s structure. The setup includes five downward waves, a test of descending resistance, and the price holding at $2.15 support.

Each time this pattern formed, XRP broke resistance and moved higher. The current structure shows the same conditions developing. If support holds and resistance breaks again, the asset could aim for the $3 area. The pattern stays valid as long as XRP remains above $2.15.

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