XRP at a Crossroads: Drop to $2 Next or Breakout Brewing?

XRP has fallen to $2.40 after a 5% drop over 24 hours and 8% decline over the past ￰0￱ recent pullback began from the $2.70 level, which analysts mark as the top of a correction ￰1￱ the asset approaches key support zones, short-term pressure continues while longer-term patterns remain ￰2￱ Nearing Key Support Zone Analyst ChartNerd shared that the current drop aligns with the fifth wave of a larger correction, which started after XRP reached $2.70. Price action since then has followed a five-wave structure, with the final leg possibly ending near $2.00. The area just above this level, labeled as vertical accumulation support, has held during past ￰3￱ added , “Possible wick to $2 possible,” while also noting that “no macro structure has been lost.” This suggests the broader trend has not been ￰4￱ asset continues to trade within a rising channel, and support levels from previous cycles remain in place.

A reversal near $2.00 could confirm the completion of this wave.) November 2, 2025 His chart outlines a projected move through lower support zones, possibly reaching $2.25 before any ￰5￱ structure points to a short-term downtrend, though longer-range support levels are still being ￰6￱ Expectations and Market Sentiment As CryptoPotato recently reported , interest in a potential spot XRP ETF has grown in recent ￰7￱ to prediction markets like Polymarket, approval is widely expected, with current odds being at almost 100%. The conclusion of Ripple’s legal case with the SEC earlier this year removed a major barrier, clearing the way for possible regulatory ￰8￱ briefly moved above $2.65 following renewed optimism and broader market support from a recent interest rate cut.

However, the price action has since ￰9￱ participants are now watching both the ETF timeline and key support zones to gauge the next move.