XRP tumbles with 50% discount, $2.40 breakout key

XRP price action remains weak as the broader crypto market struggles after recent liquidity injections. Over the past week, XRP is down nearly 7%, trading around $1.42 (about -0.48% in 24h). Analyst ChartNerd says XRP is already at a steep discount versus prior levels (roughly 50%–60%), but warns it is not confirmed that XRP has bottomed. The market has not reclaimed major resistance areas or key macro EMAs, keeping further downside in play. A bullish shift would require XRP to break above resistance near $2.40, which previously capped rallies in early January 2026. In a corrective scenario, analyst Tara uses wave analysis to suggest XRP could be in a Wave 2/5 retracement. That move may lift XRP toward $1.51 (near the 0.618 Fibonacci retracement). However, failure to hold after that level could “trap” optimistic traders. If the bearish continuation follows, support zones could appear near $1.12 (double-bottom potential), with a deeper extension toward ~$0.87 as another macro support. Other views are more structural or optimistic. Analyst Dark Defender argues XRP is following a broader, non-random technical structure that may be part of a larger developing formation. Analyst Celal Kucuker presents a longer-term path (Sep–Dec) mapping levels including $2.40, $1.10, $1.80, $0.90, and a potential upside target as high as $8.60. Key takeaway for traders: XRP’s near-term trend hinges on resistance reclaim ($2.40) versus continued weakness toward lower support targets.