XRP has recently continued its downward correction, putting several critical support levels at risk. The cryptocurrency failed to maintain upward momentum and is now trading well below significant resistance points.
XRP has recently continued its downward correction, putting several critical support levels at risk. The cryptocurrency failed to maintain upward momentum and is now trading well below significant resistance points.
After failing to push beyond the $2.25 resistance zone, XRP entered a corrective phase, following a similar pattern to other major cryptocurrencies. The drop took the price below key support levels at $2.20 and $2.18, indicating increasing selling pressure in the market.
Even the $2.12 support could not hold, leading the currency to a recent low of $2.095. At the time of writing, XRP is consolidating these losses and remains under the 100-hour Simple Moving Average, suggesting that bearish sentiment is dominating in the short term.
Moreover, there’s a descending trend line acting as resistance near the $2.1750 mark, further capping the upside. A brief recovery may push the token up to around $2.1320, but the main resistance lies closer to $2.1750. This level also aligns with the 50% Fibonacci retracement of the recent decline from $2.2579 to $2.095, making it a significant barrier.
Should XRP manage to break past the $2.1950 resistance, further gains toward $2.22 could follow, testing higher thresholds at $2.25 and potentially $2.30. A bullish continuation could even challenge the $2.32 level should momentum build strongly enough.
On the flip side, failure to breach resistance at $2.1750 could invite steeper losses. Immediate support rests around $2.10, with more substantial backing at $2.08. Breaking below these zones could trigger a further decline toward the $2.05 support level. Beyond that, the final major support stands at $2.020, a critical level that, if broken, would place XRP in a fragile technical position.
Looking at technical indicators, the hourly MACD is gaining traction in the bearish zone, confirming ongoing downward momentum. In addition, the hourly RSI has slipped below the 50 threshold, pointing toward weak buyer activity and strengthening the bearish narrative.
Key Technical Levels:
- Support: $2.10, $2.08
- Resistance: $2.1320, $2.1750, $2.1950
XRP’s outlook in the near term hinges entirely on its ability to reclaim resistance zones and re-establish bullish momentum. For now, selling pressure remains dominant, and traders should watch for any decisive moves above or below the key levels to determine direction.
Related: Expert Advice: Sell XRP If You’re Confused
Quick Summary
XRP has recently continued its downward correction, putting several critical support levels at risk. The cryptocurrency failed to maintain upward momentum and is now trading well below significant resistance points. After failing to push beyond the $2.25 resistance zone, XRP entered a corrective phase, following a similar pattern to other major cryptocurrencies.
Source
Information sourced from official Ripple publications, institutional research, regulatory documentation and reputable crypto news outlets.
Author
Ripple Van Winkle is a cryptocurrency analyst and founder of XRP Right Now. He has been active in the crypto space for over 8 years and has generated more than 25 million views across YouTube covering XRP daily.
Editorial Note
Opinions are the author's alone and for informational purposes only. This publication does not provide investment advice.
