XRP’s price has experienced a significant drop this week, falling nearly 17% to reach $2.11 after failing multiple times to overcome the $2.30 resistance level. This key indicator acted as a ceiling for bullish movements, and the final rejection triggered an aggressive sell-off spree. 14:00 UTC on November 17, saw a dramatic 342% intraday volume spike on XRP, indicating institutional-scale selling activity, not retail trading. This triggered a substantial price slide below the $2.30 level, triggering bearish signals from key technical indicators. The price dropped below the 200-day EMA at $2.57 and lost the critical Fibonacci retracement at $2.46, confirming a shift towards a bearish structure.