XRP Tanks After $2.40 Rally, Tina Fey-Style

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XRP tried to strut into the $2.40 region like it owned the place, then remembered it forgot its keys and walked back out. Spoiler: the rally didn’t get a standing ovation; it got a polite chuckle and a quick retreat. Welcome to the episode where the charts do more emotional yelling than I do in a season of Weekend Update. 😂

it’s the latter, but who am I to argue with a chart that wears a hoodie and calls itself market structure? 😅

From a technical perspective, the rejection at the highs isn’t exactly a shock-more like a well-timed punchline. It’s a calculated response to a big resistance zone defined by volume, Fibonacci numbers, and the broader market mood, all coordinated like a group project where someone actually does the work.

The rally into $2.40 dropped XRP into a zone where sellers have previously shown interest. When price failed to close above this region, the market signaled that bullish momentum was basically buffering its coffee and considering a nap.

XRP price key technical points

  • XRP was rejected at the 0.618 Fibonacci retracement, a key technical reversal point-think of it as the universe politely telling you to take a seat.
  • The rejection aligned with the Point of Control, the highest volume node in the broader range-aka the crowd’s loudest whisper.
  • Acceptance below the Point of Control shifts focus toward the value area low and $1.79 support-the price version of, “Let’s try a safer bet.”

The rejection from $2.40 landed right at the 0.618 Fibonacci retracement, a level that often decides whether the plot continues or takes an abrupt detour. This Fibonacci moment was reinforced by the Point of Control, creating a high-confluence resistance zone where supply tends to show up with flair.

Price reacted sharply from this area, delivering a decisive rejection rather than a slow, sad wobble. That usually means active selling pressure is in town, not just bored profit-taking from people who brought a snack to the party. The failure to sustain above the Point of Control confirms buyers didn’t bring enough conviction to push the rally to the next act.

Volume behavior adds more color to the drama. XRP moved higher into resistance on relatively muted volume, while selling pressure increased on the way down. Translation: demand fades at higher prices, and the rally looked less like a sprint and more like a scenic stroll through risk-free territory until the scenery changed.

After the rejection, XRP has fallen back below the Point of Control. From a market-profile vibe, that’s a big signal: acceptance below the upper bound often leads to rotational moves, where price glides to lower levels to rebalance supply and demand-like a group of friends deciding where to go for lunch and ending up at the same deli again.

The next big technical waypoint is the value area low, the lower boundary of fair value in the current range. If that holds, XRP may stabilize and continue ranging. If not, we’re looking at a deeper corrective move-cue the dramatic lighting.

In that scenario, the $1.79 region becomes the next major downside target. It aligns with prior structural support and serves as a natural area where buyers might re-enter. A rotation toward this zone would complete the traversal of the range and basically hit the reset button on this breakout attempt.

What to expect in the coming price action

As long as XRP stays below the Point of Control and fights resistance near $2.40, downside probing remains the more likely short-term plot twist. The main question is whether price can find support at the value area low or if it slides comfortably into the acceptance below it.

A sustained break below the value area low would open the door to a deeper corrective move toward $1.79, where stronger demand is rumored to exist. Conversely, a successful defense of the lower support could keep XRP trading in a choppy range, letting price rotate higher once selling pressure is absorbed-like a tense office meeting that somehow ends with a unanimous decision to order pizza.

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2026-01-08 19:22