XRP has been experiencing volatility as its price struggles to maintain key support levels. The recent pullback has led to speculation about whether a potential recovery is in sight or if further downside is imminent. By examining multiple timeframes and technical indicators, we can assess XRP’s current position and project possible movements in the near term.
Trend Overview
The overall trend in XRP appears to be bearish, with the price currently trading around $2.19, reflecting a 4.57% drop in the last 24 hours. Market sentiment has weakened, as indicated by a 43.41% decline in trading volume, signaling lower trader interest and reduced liquidity. The price has failed to sustain its previous highs, and the presence of lower highs suggests a continuation of bearish pressure.
On the 2-hour chart, the SMA (9-period) at $2.2105 and EMA (9-period) at $2.2145 indicate that XRP is trading below these short-term moving averages, reinforcing the bearish sentiment. Additionally, Bollinger Bands (BB) show the upper band at $2.3501, the middle band at $2.2506, and the lower band at $2.1511—indicating that XRP is near the lower range, increasing the likelihood of further downside.
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Technical Indicator Breakdown
Moving Averages
- 9-period SMA: $2.2105 (Resistance)
- 9-period EMA: $2.2145 (Resistance)
- Bollinger Bands (20, SMA, 2):
- Upper Band: $2.3501
- Middle Band: $2.2506
- Lower Band: $2.1511
These indicators suggest that XRP is struggling to break above resistance levels, confirming that selling pressure is still present.
Short-Term (5-Min Chart)
The short-term price movement shows consolidation near $2.19, with minor fluctuations. The SMA (9-period) at $2.1844 and EMA (9-period) at $2.1868 are closely aligned with the price, indicating an attempt at stabilization. Bollinger Bands suggest price compression, which often precedes a breakout—either upward or downward. If buyers step in, we might see a move toward $2.20-$2.21, but a failure to hold this level could push XRP down toward $2.17.
Micro-Trend (1-Min Chart)
Examining the micro-trend, the SMA (9-period) at $2.1866 and EMA (9-period) at $2.1873 are providing immediate support. However, with the upper Bollinger Band at $2.1916 and the lower band at $2.1799, XRP is facing a tight trading range. This suggests indecision among traders, where a breakout above $2.19 could signal a minor recovery, while a break below $2.18 could lead to another downward push.
Market Sentiment and Volume Analysis
A significant factor contributing to XRP’s weakness is the decline in trading volume, currently at $6.79 billion—a sharp 43.41% drop from the previous session. This suggests that fewer participants are actively trading, reducing momentum for a strong rebound. The market cap of $126.81 billion has also dropped by 4.97%, further confirming the weakening sentiment.
Key Support and Resistance Levels
- Immediate Resistance: $2.21-$2.22 (Short-term SMA and EMA)
- Stronger Resistance: $2.25-$2.30 (Previous highs and Bollinger Band upper range)
- Immediate Support: $2.17-$2.18 (Lower Bollinger Band and previous price action)
- Critical Support: $2.15 (A breakdown here could trigger more selling pressure)
Projections and Possible Scenarios
Bullish Scenario
For XRP to turn bullish, it must break above $2.22 and hold it as support. If buying pressure increases, we could see a move toward $2.25, where the next major resistance lies. A breakout above $2.30 would indicate a shift in momentum, potentially setting XRP up for a retest of $2.35-$2.40.
Bearish Scenario
If XRP fails to maintain $2.18, it could test $2.17-$2.15, and breaking below this could trigger a more significant selloff toward $2.10. The declining volume and rejection at key resistance levels indicate that bears are still in control, making a drop more likely if XRP doesn’t reclaim $2.21 soon.
Read More: GOGGLES (GOGLZ) Price Analysis: Is the Recent Uptrend Sustainable?
Conclusion
XRP is currently in a bearish phase, struggling to break key resistance levels. The weakening volume, downward trend in moving averages, and Bollinger Bands compression suggest a potential continuation of the downtrend. However, if bulls can reclaim $2.22, XRP may see some relief. Traders should watch for a decisive move above $2.21 or a breakdown below $2.17 to confirm the next significant trend move.
