XRP price drops 1.78% to $2.78 amid broader market decline, risking downtrend continuation. Fear & Greed Index shows growing caution among investors, with onchain activity dropping significantly. Declining futures open interest indicates lack of conviction. Technical setup suggests rebound if $2.70 support holds, otherwise potential drop to $2.

XRP’s descending triangle pattern signals bearish reversal, with support at $2.70 crucial. Break below could lead to extended drawdown. Bulls aim to break upper trendline at $3.09 for bullish confirmation. Losing $2.70 may trigger sell-off towards $2.08 target. Liquidation heatmap shows support at $2.70, resistance at $2.87-$3.74.

MACD indicator hints at bearish crossover in September, potentially pushing XRP price towards $2.17. Investors advised to conduct own research before making investment decisions.

Read more at Cointelegraph: XRP Price is at Risk of a 25% Drop to $2: Here is Why