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The XRP price plummeted 19% in the last 24 hours to trade at $2.21 as of 11:18 p.m. EST on trading volume that surged 352% to $25.5 billion.
This comes as reports arose that Ripple Labs has moved 700 million XRP tokens into escrow, which means that the tokens are temporarily locked and cannot be used for trading.
The move is a strategic shield against potential declines in XRP’s value, as the overall cryptocurrency market spirals downward.
700M+ $XRP locked. 500M+ $XRP unlocked. @Ripple isn’t playing around. This feels like a liquidity test before something big drops. Are we about to witness history? 👀
— Hunter (@TheTeaPartier) February 2, 2025
XRP Price On A Sustained Downtrend
The XRP price analysis on the 4-hour chart shows a clear bearish breakdown following a prolonged period of consolidation within a falling wedge pattern.
After failing to break above the upper resistance trendline near $3.10, the XRP price started trending lower, eventually breaking below both the 50-period Simple Moving Average (SMA) on the 4-hour chart at $2.9872 and the 200-period SMA at $2.7918, according to GeckoTerminal data.
The price of XRP has now collapsed to $2.2171, marking a significant loss in a short time, with a large volume spike confirming strong selling pressure.
Moreover, the Relative Strength Index (RSI) is at 11.12, which is deeply oversold (<30). Such extreme oversold conditions often lead to a short-term bounce, but the broader bearish momentum may limit any recovery attempts.
The Moving Average Convergence Divergence (MACD) is in negative territory (-0.0758 for the MACD line and -0.1694 for the signal line), showing a strong bearish crossover. This suggests that momentum remains in favor of the bears, and no signs of a reversal are present yet.
Ripple Token Price Prediction
With the XRP price breaking below key support levels, further downside is likely unless buyers step in aggressively. The next major support level to watch is around $2.00, and if this breaks, XRP could see $1.80 or even lower in the short term.
Given the extremely oversold RSI, a relief bounce could occur, potentially pushing XRP back toward the $2.50-$2.60 resistance zone. For a true trend reversal, the Ripple token must reclaim the $2.80-$3.00 range and sustain above it.
As the XRP price plummets, investors are also buying a new meme coin called Meme Index (MEMEX). According to crypto analyst and YouTuber Jacob Bury, who has over 54.9k subscribers, MEMEX has the potential to be the next 10x crypto.
Meme Index Presale Raises Over $3.29 Million
Finding promising opportunities among hundreds of weekly launches remains a significant challenge in the crypto and meme coin markets.
Meme Index addresses this through its decentralized index platform, designed to categorize and group meme coins based on how risky of an investment they are. Since its December 2024 launch, the MEMEX token presale has already raised nearly $3.3M.
🚨 Meme Index is live in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled access to the $120 billion meme coin market.
Meme Index offers exclusive access to indexes that cater to every risk… pic.twitter.com/GsiBBuZOzX
— Best Wallet (@BestWalletHQ) December 27, 2024
The platform offers four distinct investment baskets—Titan, Moonshot, MidCap, and Frenzy—catering to various risk appetites.
These baskets range from including established tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) to featuring emerging, high-potential, and high-risk meme coins.
By holding MEMEX tokens, investors gain access to these curated portfolios, simplifying the process of investing in the meme coin sector.
A standout feature of the Meme Index is its staking program, which is currently offering an annual percentage yield of approximately 692%.
You can purchase MEMEX tokens on the official website for just $0.0158443 to participate in the presale.
Buy MEMEX here to lock in the best deal before its price increases in 44 hours.
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