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The XRP price plummeted 7% in the last 24 hours to trade at $2.50 as of 11:28 p.m. EST on trading volume that plunged 41% to $11.1 billion.
This comes after the XRP Ledger experienced a one-hour outage on February 4, which affected transaction processing but not user funds. According to preliminary findings, the major cause is a lack of published validations.
Ripple blockchain is down. I repeat, Ripple blockchain is down.$XRP pic.twitter.com/Y56tv64wcx
— ANON GUY (@sunsnowbro) February 4, 2025
However, validator operators acted swiftly to restore normal functionality, which demonstrated community responsiveness during the outage.
XRP Price Trading Within Support
The XRP price had a strong bullish rally, as indicated by the steep upward movement marked on the chart. This rally was followed by a sideways consolidation phase, suggesting a period of price accumulation before the next breakout.
Following this consolidation, the price of XRP surged once again, testing a resistance zone near the $3.36 level before facing strong rejection, according to data from GeckoTerminal.
This resulted in a downward price correction, forming what appears to be a rounded top pattern, which often signals a potential bearish reversal.
The price of the Ripple token is currently trading at $2.50, just below the 50-day Simple Moving Average (SMA) at $2.62. This signals potential short-term bearish pressure.
The previous resistance level is now acting as a support zone around the $2.47 level. If this support holds, XRP may attempt a rebound. A breakdown below this support could push prices lower, potentially toward the 200-day SMA at $1.30.
Meanwhile, the Relative Strength Index (RSI) is at 38.31, which indicates that XRP is approaching oversold conditions. If the RSI dips further below 30, it could signal a strong buying opportunity. Conversely, if the RSI starts rising, it could indicate a potential price reversal.
Ripple Token Price Prediction
Given the current technical setup, the XRP price is at a critical decision point. If XRP maintains the $2.50 support and rebounds above the 50-day SMA, it could retest the $3.50 resistance level.
However, if XRP fails to hold the $2.50 support, it could drop further toward the $2.00 psychological support level. A deeper correction could push prices toward the 200-day MA at $1.30, a major support zone.
In the meantime, investors are flocking to the Best Wallet (BEST) presale, which popular YouTuber ClayBro, with over 136K subscribers, says is one of the best crypto wallets for 2025.
Best Wallet Presale Heads For $10 Million – Next Big Crypto?
Best Wallet is rapidly emerging as a top choice for those entering the cryptocurrency market and its presale has already surged past $9.1 million.
The wallet supports 60+ blockchains, featuring a built-in DEX, presale aggregator, and crypto debit card. Its native token, BEST, powers an ecosystem designed to simplify on-chain activities while minimizing security risks, making it a standout in the competitive crypto wallet space.
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— Best Wallet (@BestWalletHQ) February 3, 2025
Best Wallet is quickly gaining traction and is now competing with popular wallets like Trust Wallet and MetaMask, with the potential to outpace them due to its unique array of features.
A key feature that sets Best Wallet apart is its “Upcoming Tokens” section, a presale aggregator that identifies high-potential projects.
The project’s success in identifying promising projects is clear. It has already flagged Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that delivered 500% and 3,000% gains, respectively, for early investors.
BEST tokens can also be staked for a huge 188% annual return.
Currently, BEST tokens are priced at $0.023875. Buy before a price hike in less than 37 hours.
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