XRP Bears Tighten Grip: Price Momentum Turns Negative in Latest Slide

XRP's downward spiral continues as bearish pressure intensifies across cryptocurrency markets.

The Technical Breakdown

Momentum indicators flash red across trading platforms, with selling volume outpacing buying pressure by significant margins. Resistance levels crumble as support zones get tested repeatedly.

Market Psychology Shift

Traders reposition portfolios while institutional players remain cautious amid regulatory uncertainty. The fear-and-greed index tilts toward extreme fear territory.

Another day, another dip—because what's finance without manufactured volatility to keep the suits employed?

XRP Price Dips Further

XRP price remained below the $2.60 barrier and started a fresh decline, like Bitcoin and Ethereum. The price dipped below $2.420 and $2.40 to enter a short-term bearish zone.

The price even spiked below $2.30. A low was formed at $2.287, and the price is now consolidating losses. There was a minor recovery, and the price tested the 23.6% Fib retracement level of the recent decline from the $2.647 swing high to the $2.287 low.

The price is now trading below $2.40 and the 100-hourly Simple Moving Average. Besides, there is a key bearish trend line forming with resistance at $2.40 on the hourly chart of the XRP/USD pair.

If there is a fresh upward move, the price might face resistance NEAR the $2.40 level and the trend line. The first major resistance is near the $2.450 level, above which the price could rise and test the 50% Fib retracement level of the recent decline from the $2.647 swing high to the $2.287 low at $2.467.

A clear MOVE above the $2.4670 resistance might send the price toward the $2.50 resistance. Any more gains might send the price toward the $2.550 resistance. The next major hurdle for the bulls might be near $2.60.

Another Drop?

If XRP fails to clear the $2.40 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.30 level. The next major support is near the $2.280 level.

If there is a downside break and a close below the $2.280 level, the price might continue to decline toward $2.250. The next major support sits near the $2.220 zone, below which the price could continue lower toward $2.120.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $2.30 and $2.280.

Major Resistance Levels – $2.40 and $2.450.