Story Protocol (IP) Price Drops 50% from All-Time High: Is the Downtrend Here to Stay?

IP’s price has dropped by 48% in the past five days as investors cashed in on profits following a new all-time high achieved over the weekend. A confirmed bearish trend now raises the possibility of further declines in the coming days.

According to crypto.news, Story Protocol (IP) was trading at $7.59, reflecting a 24.5% drop in the last 24 hours and 48% below its recent all-time high of $14.78, which was reached on September 21.

Notably, Story’s price surged to its new peak amidst increased community discussions following the announcement of the Origin Summit, which is slated for September 23, 2025, in Seoul during Korea Blockchain Week.

This summit—a pivotal event at the intersection of AI, intellectual property, and blockchain—will feature speakers and executives from notable entertainment and IP companies like HYBE and SM Entertainment, as well as leading crypto and investment firms such as Polygon, Grayscale, and Animoca Brands, discussing the tokenization goals of IP through Story’s framework.

Hosting impactful events like this enhances a project’s visibility and may attract investor interest, potentially promoting stronger support and sustained engagement.

Additional noteworthy developments that contributed to the rally include the launch of the IP Vault, meant to secure IP data by storing it on-chain, and real-world adoption through significant IP partnerships.

Aria, an IP tokenization initiative based on Story, recently announced plans to tokenize $100 million worth of K-pop IP on the Story blockchain—a move viewed as a high-profile endorsement of the platform’s potential for practical application. With iconic IPs like Pinkfong’s “Baby Shark” also joining the platform, investors likely see this as confirmation that Story Protocol is actively facilitating the tokenization of some of the most recognizable content in global entertainment.

Although these developments fueled the rally, their effect diminished as investors began to take profits. It is typical for cryptocurrencies to experience pullbacks after substantial rallies, especially following an asset that has reached a new all-time high, as seen with IP.

Some selling pressure was also linked to the overall crypto market decline, which followed a new round of tariffs announced by U.S. President Donald Trump and growing uncertainty regarding potential rate cuts from the Federal Reserve this year.

During this period, Bitcoin (BTC) and several leading altcoins faced losses, resulting in the crypto fear and greed index plunging into ‘fear’ territory.

Crypto traders are now looking for hints from today’s PCE data release, the Fed’s preferred inflation indicator, which may provide insights into the central bank’s forthcoming actions.

On the daily chart, IP’s price has dipped below the lower trendline of an ascending broadening wedge formed since late August of this year. In technical terms, this bearish reversal pattern appears during an uptrend, characterized by an asset’s price making successive higher highs and higher lows between two diverging upward-sloping lines.

After the bearish breakout, Story’s price has fallen beneath the 50-day simple moving average, signaling that sellers have begun to dominate price actions.

Momentum indicators like the MACD are also indicating bearish trends today, with the MACD line crossing below the signal line—another sign that sellers are presently in control.

Given these bearish indicators, IP appears vulnerable to further declines in the upcoming sessions unless general market sentiment improves or a significant bullish catalyst arises.

As it stands, the next significant support level for IP is at $5.4, which is 29% below the current price. If bulls fail to uphold this support, it could lead to a more substantial correction towards $2.4, marking the token’s lowest level from June.