Bloomberg: XRP Risks Breaking Key $1.82 Support — Traders Should Watch Volume and BTC Sentiment
Bloomberg strategist Mike McGlone warns XRP is at risk of breaching a critical support near $1.82 as a broader market corrective wave weighs on altcoins. Since the crypto market peak around $3.29 trillion on Jan. 14, total market cap has retraced roughly $360 billion, and XRP has failed to hold the $2 psychological level and recently slipped below $1.90. McGlone notes $1.82 has been a dependable support since a November 2025 rally and was repeatedly defended during prior pullbacks in April, October, November and December 2025. He says XRP “looked ripe” to breach $1.82; a sustained breakdown under that level could signal deeper corrective pressure for XRP and other risk assets. Historically, rebounds from retests of $1.82 preceded strong rallies (for example, a mid‑April 2025 rebound that led toward a July 2025 high near $3.66), so the level remains a key pivot. Traders should monitor daily closes around $1.82, trading volume on any break or reclaim, and overall market sentiment—especially Bitcoin volatility—to judge whether buyers will defend the zone or capitulation will follow. This analysis is informational and not financial advice.
Bearish
The reports from both summaries point to increased downside risk for XRP centered on the $1.82 support. McGlone highlights market-wide selling (a ~ $360B market-cap pullback) and recent failures to hold $2 and $1.90 as evidence that momentum favors a break rather than a rebound. A daily close below $1.82 with elevated volume would likely trigger further selling and deeper corrective moves in the short term. In the near term, traders should expect heightened volatility: aggressive stops could push price lower quickly on a confirmed break, while a low-volume dip and rapid reclaim could present a short-term buying opportunity. Over the medium to long term, the level’s historical role as a launchpad for strong rallies means a defended $1.82 could restart a recovery toward prior highs, but current market breadth and Bitcoin-driven sentiment make that less likely until clear bullish confirmations (sustained reclaim, rising volume, and broader market stabilization) appear.