XRP price fell 1.42 percent to $2.13 today as bearish momentum continued to dominate the daily trading range.
Key support between $1.99 and $2.09 remains intact but under threat, while resistance at $2.37 may limit short-term upside.
Long/short ratio hit a monthly high at 1.035, with a 44% surge in derivative volumes indicating fresh interest in long positions.
Ripple’s XRP has extended its losing streak, falling by 1.42% today, June 21, to trade at $2.13. This marks a deepening bearish phase that has developed over the past month, following a steady downtrend from the May 12 high of $2.65. The cryptocurrency is now testing a critical demand zone that previously led to a market rebound.
Since reaching a peak in mid-May, XRP has consistently faced downward momentum. Sellers have maintained dominance, pushing the price into a consolidation range that has lasted seven months. While this zone has historically prompted reversals, technical indicators suggest limited buyer strength at present.
Technical Indicators Signal Weak Buyer Interest
The Chaikin Money Flow (CMF) indicator is showing a continued decline. This downward trajectory reflects a weakening buying force in the market. A further dip into negative territory could shift sentiment fully bearish and increase the likelihood of XRP slipping below $2.
The volume of trade has been traced to have steadily reduced with the reduction of volume histogram bars. The trend signifies a declining interest of traders, which is accompanied by the long-term consolidation process of the XRP. The present absence of involvement could limit any short-term bullish turnaround.
Key Support and Resistance Levels in Focus
XRP is holding just above a critical support zone between $1.99 and $2.09. This range has supported prices since the decline began in January from the $3.40 peak. A breakdown below this zone may open the path to a multi-month low at $1.61. On the upside, resistance remains at the 200-day Simple Moving Average of $2.37. A strong move beyond this level could shift momentum and push prices toward the $2.73 to $2.83 range.
Despite bearish market behavior, the long/short ratio has surged to a monthly high of 1.035, according to Coinglass. This change demonstrates an increasing number of traders who are taking long positions with the anticipation of a bounce. The other area that is showing growth is the derivatives volume, which has surged in the past 24 hours by 44 percent, which is a positive trend indicating increased interest from investors.
The post XRP Faces Sell-Off as Price Drops Below $2.13 Amid Growing Bearish Pressure appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
