XRP Struggles Below $2.33 Amid Bearish Rejections

XRP continues to face downward pressure after failing to surpass the critical $2.33 resistance level, reinforcing a short-term bearish outlook for the digital asset. Over the past 24 hours, XRP dropped by 3.7%, slipping from a peak of $2.288 down to around $2.260 despite forming a double bottom near $2.250. Although XRP has shown brief recoveries, weakening trading volume signals growing seller dominance and buyer fatigue at higher levels.

The recent correction follows a bout of volatility fueled by market speculation surrounding Franklin Templeton’s anticipated approval of a U.S. spot exchange-traded fund (ETF) focused on XRP. Expectations around this decision, expected later this month, had temporarily lifted investor optimism. Meanwhile, Ripple’s continued regulatory advances — such as the approval of its RLUSD stablecoin in Dubai — had added positive momentum. However, despite these developments, the market has interpreted the repeated resistance rejections as a red flag, suggesting sellers are regaining control.

Market Sentiment Shifts Despite Promising Developments

XRP’s position within global financial conversations remains strong, particularly in the context of cross-border payments and blockchain-powered remittances. Ripple’s strategic partnerships, especially across the Asia-Pacific and Middle East regions, reinforce long-term confidence. These include initiatives in real-world asset tokenization and broader efforts to digitize finance through blockchain ecosystems. However, as these initiatives continue to unfold, the short-term view has turned cautious due to price behavior and technical signals.

The pattern of rejections at the $2.33 resistance area illustrates a clear ceiling, prompting concerns over XRP’s near-term strength. The rejection zone even hints at a potential head-and-shoulders formation, with a neckline hovering around $2.285 — a classic technical indicator suggesting a bearish reversal. While XRP attempted to recover after developing a double bottom near $2.25, the declining volume on each upswing indicates hesitancy among buyers.

Technical Details Paint a Cautious Picture

Here are the notable technical milestones over the past trading cycle:

• The asset declined from $2.288 to $2.260, marking a 3.7% loss within a 5.8% peak-to-trough range.
• Resistance firmly held around the $2.33 to $2.34 range, reinforcing bearish sentiment and forming a probable head-and-shoulders structure.
• A double bottom at $2.250 helped trigger a minor recovery, but without strong volume support, the bounce remains tentative.
• High selling pressure was observed between 01:31 and 01:33, with over 7 million XRP traded.
• Minor recovery began at 01:53, as higher lows formed. Despite this, weakness in volume casts doubt on the durability of this bounce.
• Further downside may be likely if $2.25 support fails, with the next price target near $2.234.

As traders monitor levels closely, the $2.250 support now represents a pivotal threshold. A break below could increase bearish momentum, especially as investor enthusiasm temporarily weakens in the absence of positive catalysts. Current volumes underscore the challenges of sustaining meaningful rallies unless clearer news pushes the market sentiment forward.

Wider market trends and the eventual decision regarding the Franklin Templeton ETF will likely determine XRP’s medium-term path. Until then, analysts and traders alike are keeping a close eye on support zones and resistance pressures as they await confirmation of a more decisive trend.

Related: Expert Advice: Sell XRP If You’re Confused

While long-term fundamentals remain generally intact, especially given Ripple’s expanding global reach, technicals are currently guiding most short-term action. Whether XRP can reclaim momentum above $2.33 — or if it risks sliding below its current support — remains an open question, particularly as market expectations evolve.