Bloomberg Senior Strategist Warns of a Potential XRP Support Breakdown

Bloomberg Senior Commodity Strategist, Mike McGlone, has warned of a potential XRP price breakdown below a pivotal support level.

This warning comes on the back of the ongoing corrective wave that has dominated the broader crypto market. Specifically, since the Jan. 14 high of $3.29 trillion, the global crypto market cap has lost $360 billion as selling pressure persists across the board. This has impacted XRP’s price action, with the altcoin now trading below $1.9.

However, amid this downtrend, Mike McGlone believes sharper declines may be on the horizon for XRP. Notably, he suggested in one of his latest analyses that XRP was on the verge of breaking below the $1.82 support level, which has acted as a reliable cushion since the November 2025 rally.

Key Points

• The global crypto market has continued to face bearish pressure, losing $360 billion since the Jan. 14 high.
• This pressure has not skipped XRP, which has recently lost the $1.9 support level after relinquishing $2 to the bears earlier.
• Bloomberg Strategist Mike McGlone believes the worst is yet to come for XRP, identifying the $1.82 support level as the next region to lose.
• This support area has acted as a reliable cushion for XRP since the November 2025 rally, and XRP last closed below it on Dec. 18.

XRP Has Struggled with the Broader Market

McGlone’s latest analysis builds on the market-wide turbulence that has led to steep price declines for most crypto assets. For instance, Bitcoin (BTC) dropped 2.83% on Jan. 25, marking its second-largest intraday decline over the past seven weeks.

Expectedly, Bitcoin’s downturn spilled into the altcoin market, with XRP witnessing a larger 4.09% drop on Jan. 25. The latest drop has dealt a heavy blow to XRP’s chances of a recovery, as it has now lost the $1.9 support level after relinquishing the pivotal $2 mark on Jan. 17.

Bloomberg Strategist Expects Steeper Declines

With XRP now trading for $1.88, Mike McGlone expects steeper declines to play out. Specifically, he called attention to the $1.82 support as the next area to watch. McGlone suggested that XRP “looked ripe” to breach below this $1.82 level. He argued that the current market condition would have implications for all risk assets besides XRP.

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XRP Chart | Bloomberg Intelligence

Notably, after dropping below $1.96 in April 2021, XRP failed to reclaim this $1.82 area until the Trump-led upsurge in November 2025. Since crossing the level in November 2025, XRP has continuously respected it despite the occasional dips that have played out until now.

Each time XRP dropped below this area, it immediately staged a recovery above it. This pattern played out in early to mid-April 2025, during the Oct. 10 market crash, in late-November 2025, and throughout December 2025. The last time XRP closed below the pivotal mark was on Dec. 18, 2025. Now, the altcoin appears to be on the verge of retesting the level again.

It remains unclear if the bulls will mount another rebound push after the expected retest of the $1.82 area. However, market data confirms that whenever such a rebound occurs, XRP often soars higher. For instance, the rebound from mid-April 2025 set the stage for the rally toward $3.66 in July 2025.