The market performance of XRP just produced what may turn out to be one of the largest fakeouts of 2025. After a seemingly bullish breakout above key moving averages, the asset snapped right back below, erasing the previous day’s gains and casting a heavy shadow over near-term sentiment.

XRP broke through the 50-day and 100-day EMAs on June 16 and closed close to $2.27, giving traders hope for a long-term rally that might target the resistance between $2.40 and $2.50. A brief volume spike and RSI momentum heading toward bullish territory supported the move. But within 24 hours, it all unraveled. Today’s reversal invalidated the breakout attempt with price falling back toward $2.23 and showing signs of rejection at both the 50 and 100 EMAs.

XRP/USDT Chart by TradingView

Technically speaking, this indicates buyer hesitancy and confusion, which are typical signs of a failed breakout. The 200 EMA at $2.09, which has already been tested three times in June, is the next likely support if this breakdown picks up steam. Why does this matter? A failed breakout is not just another red candle — it destroys bullish structure. Traders who entered on the breakout are now underwater or panic-selling, and the lack of follow-through erodes trust in bullish momentum.

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The pattern also risks forming a double top, further fueling bearish setups if the price breaks $2.09. Volume has dropped off since yesterday’s candle, indicating a lack of conviction among bulls to defend levels. Meanwhile, RSI has pivoted downward from the neutral zone, suggesting another leg down may be ahead.

Bottom line: This is not just a hiccup; it is a red flag. You should anticipate erratic movement or even more of a retracement until XRP recovers and consolidates above $2.27 with volume and wider market support. Traders should proceed cautiously, as this fakeout could usher in a more aggressive correction than anticipated.

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