XRP is currently trading at $2.19 after a modest recovery from yesterday’s dip, but the asset remains under pressure as it hovers dangerously close to the critical $2.00 support level. Earlier this week, XRP briefly touched $2, raising concerns among investors. While today’s rebound offers slight relief, the broader trend remains bearish.
The daily chart shows XRP continuing its descent within a well-defined descending channel, marked by consistent lower highs and lower lows. A recent rejection near the $2.35–$2.41 resistance zone—where the 26 and 50 EMAs converge—has dashed short-term bullish hopes. Unless XRP breaks above this range, the bearish structure will likely persist.
Adding to the concern is the proximity to the 200 EMA, now at $1.94, which has served as a key support level in recent months. A decisive drop below $2 could trigger panic selling and potentially push the price toward the $1.75 support region, erasing gains made in Q1 2025.
However, all hope isn’t lost. If XRP can hold above $2.00 and attract strong buying volume, a short-term reversal is possible. The Relative Strength Index (RSI) stands at 43—near oversold territory—suggesting a potential rebound if volume picks up.
The next few sessions are critical. Maintaining the $2.20 level as psychological support could prevent further losses. A strong bounce with sustained buying could reopen a path toward the $2.30 resistance. Conversely, failure to hold the line may lead to a deeper correction and increased bearish momentum.
With bearish sentiment still dominant, XRP’s future hinges on holding key support levels and generating renewed investor interest to reverse its current trajectory.
Financial Market Newsflash
No financial news published today. Check back later.
