A significant drop in XRP’s value has occurred, falling over 7% as market sentiment turns pessimistic. This decline marks a notable breach of key support levels, including the 50-day EMA and a rising trendline. Further declines are possible if the key support level at $2.00 is breached. The Relative Strength Index (RSI) has also declined considerably, indicating decreasing bullish momentum and increasing selling pressure. Heavy capital outflows have contributed to this downturn, with approximately $350 million leaving XRP in a short period of time. This trend highlights a decline in trust in the asset. While a reversal remains unlikely at present, further declines in the RSI could confirm oversold conditions. If XRP fails to recover and support is not found, it may continue its downward trajectory toward the $1.76 region. Despite currently exhibiting bearish trends, XRP’s history shows that downtrends might reverse at any moment. As a result of lackluster speculative interest which contributed to an enormous surge from $3, XRP continues struggling below 100 EMA and needs to regain momentum to reach bullish territory.