- XRP has dropped to $2.2 amid bearish market sentiment, with key support at $2 and a potential decline to $1.6 if sellers remain in control.
- A major bearish cross on the weekly MACD signals further downside unless buyers step in to push the price above $3.
Ripple’s XRP has faced renewed selling pressure, dropping to $2.2 as bearish sentiment takes over the market. With critical support and resistance levels in sight, the coming days could determine whether XRP holds its ground or falls further.
Bears Take Control
Over the past 24 hours, XRP has declined by 8%, turning the overall market momentum bearish. The key support at $2 is now in focus, as a break below this level could push the price down to $1.6. However, if XRP can hold steady at $2, a reversal could be possible.
Where Are the Buyers?
Sellers have dominated the market in recent weeks, leading to a consistent decline in XRP’s price. The lack of buying pressure has been evident in the volume profile, which remains red. However, $2 has historically served as strong support, and if buyers step in at this level, XRP could see a potential rebound.
Bearish Signals Intensify
A major bearish cross on the weekly MACD is set to confirm by the end of the week. This technical indicator suggests that XRP could remain under downward pressure. If the $2 support fails, the next significant level to watch will be $1.6.
What’s Next for XRP?
The coming days are crucial for XRP’s short-term price action. If buyers fail to defend the $2 support level, further losses could be expected. On the upside, XRP must break above $3 to regain bullish momentum. Until then, caution remains key for traders navigating this volatile market.
About the Author
