Ripple (XRP) Price Stabilizes Above $2 as Markets Brace for Further Outflows

Ripple (XRP) price found strong support at the $2 level despite a sharp sell-off over the weekend.

The price of Ripple (XRP) stabilized above the $2.10 mark on March 9 as the broader crypto market experienced renewed selling pressure following the latest U.S. Non-Farm Payrolls (NFP) report.

The latest XRP liquidation data from Coinglass highlights a crucial bearish leverage cluster that could determine the next major price move.

Ripple (XRP) Price Stabilizes Above $2 as Markets Brace for Further Outflows

The price of XRP found strong support at the $2 level despite a sharp sell-off over the weekend.

XRP fell to a low of $2.08 on Sunday, sliding by 22% in just 48 hours as capital outflows weighed on the broader crypto market following the latest NFP report.

However, bullish traders made a concerted effort to prevent a deeper breakdown, and XRP rebounded to $2.17 at the time of writing.

The latest figures showed that Non-Farm Payrolls came in lower than expected at 145K, but the Unemployment Rate fell to 3.5% compared to the previous reading of 3.7%, signaling that the U.S. labor market remains strong.

This could lead to further interest rate hikes by the Federal Reserve, which in turn puts pressure on risk assets like XRP.

With 10-year U.S. Treasury yields climbing to 4.3%, their highest level since November 2023, institutional investors are shifting funds toward fixed-income securities.

This move is pushing down the prices of riskier assets, such as cryptocurrencies.

As tariff impacts on global trade begin to materialize, crypto markets could experience further volatility in March. This could put additional pressure on Ripple price, making its upcoming resistance battles even more crucial for traders seeking a bullish recovery.

XRP Bears Deployed $297M in Leverage at $2.70 Over the Past Month

The price action of XRP has been largely influenced by market sentiment surrounding Donald Trump’s economic policies. While Bitcoin has seen heightened volatility, traders on XRP have also been adjusting their positions in anticipation of further regulatory shifts.

According to Coinglass data, bearish traders currently dominate the XRP derivatives market. Over the past 30 days, total long leverage positions amounted to $114 million, while short leverage stood at $372 million. This means that bearish sentiment has accounted for approximately 76.5% of leveraged positions.

A closer look at the liquidation map reveals that of the active $372 million in short contracts, a significant $297 million is concentrated at the $2.70 mark. This level represents a major hurdle for bulls in the next recovery phase.

If XRP price approaches $2.70, bear traders could deploy defensive measures, including increasing short positions or triggering liquidations, to suppress upward momentum. This could create a temporary resistance zone, making it difficult for bullish traders to push prices toward the next psychological target of $3.1.

For traders with a low-risk appetite, waiting for a confirmed breakout above $2.70 before entering major long positions could provide a safer entry strategy. A decisive move above this resistance would indicate a shift in market sentiment, potentially setting the stage for a sustained bullish rally.