XRP falls below 2.5 USD, with pressure from the market continuing.

The price of XRP has recently experienced a panic sell-off, falling below the key support level of $2.5, reaching a low of $2.44, which is a cumulative drop of 33% from the July peak. This breakdown is accompanied by a significant increase in trading volume, becoming a clear signal for further pursuit by short sellers.

Although the Canary XRP ETF is expected to be listed automatically on November 13, and the positive news has been released in advance, the market's short-term sentiment remains pessimistic, and the selling pressure has not been fully digested. The operational strategy can rely on the inertia momentum after the technical break, grasping the trading opportunities for prices to quickly move down to the support level.

It is recommended to enter a short position when the price rebounds and tests the breakout area, with the ideal entry range being $2.48–$2.52, using the retracement action to confirm bearish strength. The first target level is set at $2.42; if sentiment continues to deteriorate, further downwards look at the potential emotional extreme area of $2.35.

It is worth noting that if there are signs of acceleration in the ETF listing process, it may trigger a sharp rebound due to the short covering. Therefore, when the price reaches the first target level, it is recommended to immediately close 50% of the position to lock in some profits in advance.
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