After an extended correction throughout May, XRP price has begun showing early signs of stabilization above the $2.06 support zone. With price action breaking a key descending trendline on the 4-hour chart and holding gains around $2.21, short-term traders are eyeing the possibility of a bullish recovery as June 10 approaches.
What’s Happening With XRP’s Price?
On the weekly chart, XRP price today is trading around $2.21 after bouncing off the mid-range of its Fibonacci retracement zone. The price has rebounded over 7% from its local low of $2.06, retesting a declining resistance trendline for the third time. This level coincides with the 38.2% Fibonacci zone, suggesting a critical juncture where bulls must hold ground for further upside.
The XRP price action has remained volatile since failing to clear the $2.54 region earlier in May. However, this recent reclaim of the $2.20 zone, alongside bullish divergence on lower timeframes, signals growing strength.
XRP Price Attempts Trendline Break on 4H Chart
The 4-hour chart shows a clear break above a multi-session descendi…
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