XRP has fallen to $2.40 after a 5% drop over 24 hours and 8% decline over the past week. The recent pullback began from the $2.70 level, which analysts mark as the top of a correction phase. As the asset approaches key support zones, short-term pressure continues while longer-term patterns remain intact. Correction Nearing Key Support Zone Analyst ChartNerd shared that the current drop aligns with the fifth wave of a larger correction, which started after XRP reached $2.70. Price action since then has followed a five-wave structure, with the final leg possibly ending near $2.00. The area just above this level, labeled as vertical accumulation support, has held during past pullbacks. ChartNerd added , “Possible wick to $2 possible,” while also noting that “no macro structure has been lost.” This suggests the broader trend has not been invalidated. The asset continues to trade within a rising channel, and support levels from previous cycles remain in place. A reversal near $2.00 could confirm the completion of this wave. Source: ChartNerd/X Meanwhile, XRP has now spent over a year trading above its 2021 highs and prior all-time high candle closes. Short-Term Chart Points to Weakness Separate analysis from Ali Martinez shows bearish movement in the short-term outlook. The 4-hour chart reveals XRP was rejected near $2.57 and has since slipped below $2.45. A lower high pattern is forming, with downward pressure from moving averages contributing to continued weakness. $XRP showing signs of weakness. A retest of $2.25 might be next! pic.twitter.com/RMYX15hbRt — Ali (@ali_charts) November 2, 2025 His chart outlines a projected move through lower support zones, possibly reaching $2.25 before any recovery. The structure points to a short-term downtrend, though longer-range support levels are still being respected. ETF Expectations and Market Sentiment As CryptoPotato recently reported , interest in a potential spot XRP ETF has grown in recent weeks. According to prediction markets like Polymarket, approval is widely expected, with current odds being at almost 100%. The conclusion of Ripple’s legal case with the SEC earlier this year removed a major barrier, clearing the way for possible regulatory progress. XRP briefly moved above $2.65 following renewed optimism and broader market support from a recent interest rate cut. However, the price action has since cooled. Market participants are now watching both the ETF timeline and key support zones to gauge the next move. The post XRP at a Crossroads: Drop to $2 Next or Breakout Brewing? appeared first on CryptoPotato .