The XRP price has dived 20% in the last 24 hours to trade at $1.67

The XRP price has dived 20% in the last 24 hours to trade at $1.67 as of 3:30 a.m. EST on a 326% pump in trading volume to $9.34 billion

The XRP price has plunged by 20% in the past 24 hours to reach $1.67 by 3:30 a.m. EST on Monday, accompanied by a 326% spike in trading volume to $9.34 billion.

This downturn comes as fears of a 1987 “Black Monday” repeat resurface in global financial markets following US President Donald Trump's firm stance on global trade tariffs.

Can Bulls Recover The Momentum As XRP Price Drops Further?

The XRP/USDT daily chart showcases a lengthy consolidation phase, where the price traded in a range of approximately $0.55 to $0.75. This range acted as an accumulation zone, setting the stage for a substantial breakout.

In November 2024, XRP broke above the $0.75 level, triggering a parabolic rally that attained a high of nearly $3.85 by December. This bullish surge cleared significant buy-side liquidity, indicating that many short positions were liquidated in the process.

However, the price encountered a well-defined bearish channel starting in early 2025, marked by a series of lower highs and lower lows, denoting a corrective phase rather than a full reversal. The descending channel has been active from around $3.50 down to the current price level near $1.69.

XRPUSDTRecently, XRP is trading around a major support zone between $1.60 and $1.85, which previously served as the breakout area during the late 2024 rally.

A label on the chart marks this zone as a “Possible Rebound” area, suggesting a potential for the price to bounce back if the support holds. On the upside, key resistance levels lie at approximately $2.00, $2.25, and $2.50, while major resistance is near the top of the channel, around $3.50.

Conversely, sell-side liquidity below $0.50 could be targeted if the current support fails, opening room for a deeper correction.

From an indicator point of view, the Relative Strength Index (RSI) is currently at 31.33, nearing oversold territory. This suggests that selling pressure may be easing, and a bounce could form if buyers step in. The convergence of this RSI level with the significant support zone strengthens the case for a short-term rebound.

However, without strong bullish volume or a broader market recovery, the upside may remain limited to the mid-channel zones or lower resistance levels.

Overall, XRP is at a critical juncture; either it will rebound and attempt to break out of the bearish channel or continue its decline toward lower liquidity zones.