XRP closed the latest session on a weak note, sliding from intraday highs of around $2.17 to settle near $2.11, underscoring a steady bearish bias. Brief midday recoveries toward $2.15 were quickly reversed as sellers reasserted control into the evening. The ongoing downtrend comes as XRP forms a descending triangle on the 4-hour chart — a classic bearish pattern that has traders bracing for a possible breakdown.
With a 0.18% dip in the latest session, XRP now sits just above a critical support zone between $2.11 and $2.14. This range has held firm so far, but repeated tests of support paired with lower highs reflect waning bullish momentum.
Technical Indicators Reinforce Bearish Outlook
Key indicators mirror the caution gripping XRP markets. The Relative Strength Index (RSI) currently stands at 36.44, approaching oversold conditions. While this hints at the potential for a short-term bounce, the broader picture remains bearish.
The MACD paints a similarly grim outlook. The MACD line is positioned at -0.0193, with the signal line at -0.0248, confirming downward momentum. Meanwhile, the 20-period Volume Weighted Moving Average (VWMA) closely shadows the price, signaling persistent pressure in the short term.
$2.00 and $1.82 Emerge as Key Levels if Breakdown Occurs
If XRP fails to defend the $2.11–$2.14 support range, attention will quickly shift to $2.00 and $1.82 as the next critical levels. A decisive breakdown below $2.00 could spark accelerated losses, deepening the bearish trend.
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On the upside, bulls would need to reclaim $2.22 to invalidate the bearish triangle and shift momentum in their favor. A breakout above that level could target resistance near $2.52, but for now, XRP remains under heavy scrutiny at a pivotal technical threshold.
As traders await confirmation, XRP’s path remains uncertain — with the risk of a breakdown looming unless buyer momentum resurfaces swiftly.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
