Analyst Ali Martinez warns that XRP price could decline to $2.40 due to converging bearish signals, including a TD Sequential sell indicator on the 3-day chart and a critical MVRV "death cross." This technical setup aligns with significant whale activity, where over 720 million XRP were offloaded in recent days, amplifying selling pressure.
Currently trading at $2.94, XRP has fallen 4.1% in 24 hours and 14.6% over two weeks, though it retains 28.8% monthly gains. Martinez emphasizes that $2.80 is a fragile support level, with a breakdown potentially accelerating losses toward $2.48–$2.40. Technical indicators reinforce bearish momentum: the daily RSI at 48.8 nears oversold territory, while MACD and Momentum readings remain negative. Short-term moving averages also show bearish flips.
Concurrently, Ripple's Chief Legal Officer Stuart Alderoty submitted regulatory feedback to the U.S. Senate Banking Committee, advocating for clearer digital asset frameworks. However, this development appears coincidental to the ongoing technical correction.