XRP Drops Below $2 Amid Market Correction But On-Chain Data Shows Resilience

XRP has fallen below the critical $2 mark during the ongoing market-wide correction, triggering concerns among investors. As of the latest data, XRP is trading at approximately $1.79, down 6% in the past 24 hours. While the broader crypto market also declined, XRP’s technical breakdown is particularly notable.

The altcoin has slipped under its 200-day Exponential Moving Average (EMA), a historically key support level that often signals long-term bullish strength. This breach opens the door for further downside toward the $1.50–$1.60 support range, especially if selling pressure persists. Additionally, the Daily Relative Strength Index (RSI) has dropped further into oversold territory, confirming that bearish momentum remains dominant.

Despite these bearish signals, XRP’s on-chain fundamentals offer a glimmer of hope. Notably, on April 7, XRP’s payment volume surged to nearly $694 million—a clear indication that real-world usage and network activity are still strong. This robust transaction volume underscores continued demand and adoption, even amid declining prices.

If XRP can reclaim the $2 psychological resistance in the short term, it could spark a bullish reversal. Regaining this level would not only restore investor confidence but also reposition XRP above its lost trendline. Such a recovery could open the path toward the $2.30–$2.50 resistance zone, offering traders a potential upside target.

While the technical outlook remains fragile, the surge in utility-driven metrics provides a reason for cautious optimism. As XRP navigates this volatile phase, all eyes remain on whether it can regain key levels and reestablish upward momentum.