XRP (CRYPTO: XRP) is down 4% to $2.39 on Wednesday as traders brace for a potential breakdown below $2.30 -- the final support before a deeper retracement that could erase months of gains.
Bearish Triangle Breakdown Threatens Further Losses
XRP Price Action (Source: TradingView)
XRP has broken below a long-term symmetrical triangle that had guided its range since mid-summer.
The token failed to recover the 20-day and 50-day exponential moving averages, now clustering between $2.55 and $2.72.
This rejection leaves momentum tilted lower, with repeated tests of the $2.30–$2.40 band signaling exhaustion among buyers.
The daily RSI sits at 38, confirming weak momentum and limited follow-through on rebounds.
Unless the RSI turns higher toward the neutral 50 level, oversold signals are unlikely to deliver a sustainable recovery.
Whale Activity Fades As Exchange Outflows Dominate
XRP Spot Inflow/Outflow Data (Source: Coinglass)
On-chain data from Coinglass shows persistent net outflows through October, indicating that investors are moving tokens back to exchanges rather than accumulating.
The most recent reading on Oct. 22 logged $7.43 million in outflows as XRP traded near $2.39.
The second half of October has been notably quiet, with no large inflow spikes to counter selling.
That absence of whale or institutional accumulation contrasts with the mid-summer period when inflows helped trigger relief rallies.
XRP Technical Levels To Watch
Immediate resistance is stacked near $2.55 at the 20-day EMA, followed by $2.61 at the 200-day EMA and $2.75 at the 50-day EMA.
Bulls need a decisive daily close above this cluster to shift near-term tone back toward neutral.
On the downside, $2.30 remains the final defense zone.
A confirmed breakdown below that base opens targets around $1.90 and $1.60, which align with liquidity gaps and the lower boundary of the broader chart structure.
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