XRP dropped below $2.50 support, reaching $2.47 amid increased institutional selling pressure. A 5% slide marked one of the largest single-day declines this month, with trading activity surging to 169 million tokens. The breakdown at $2.50 level signaled a shift in structure and potential deeper correction phase as altcoin rotation occurs.

The selloff unfolded in structured phases, starting at 13:00 UTC, pushing XRP below $2.50 support to intraday lows near $2.38. Price stabilization around $2.43–$2.46 suggests a consolidation base forming. Short-term momentum shows exhaustion as volume tapers, potentially leading to interim pauses in trending declines.

XRP’s breakdown reflects a lower-high, lower-low pattern post $2.60 resistance retest. The 8.8% volatility range indicates aggressive liquidation and profit-taking by larger holders, supported by on-chain signals of exchange inflows. Technical support lies at $2.40–$2.42, with a close below opening further downside towards $2.30–$2.33.

Institutional control is evident with hourly volume spikes exceeding 300% of averages during distribution waves. Momentum indicators like RSI and MACD have turned neutral-to-bearish, reinforcing potential downside. Volume analytics highlight institutional participation in the breakdown, suggesting completion of distribution phase with declining late-session activity.

Read more at Yahoo Finance: XRP Drops 5% to $2.47 as Bears Break Key Support Level