$XRP

Ripple XRP Price Nears 3-Month Low… Before a Bearish Explosion!

Since early February, a relative balance between buying and selling pressure has kept XRP within a tight price range. It has faced significant resistance at $2.76 and found bullish support at $2.30

However, technical indicators now suggest that this balance could soon tilt in favor of the bears, paving the way for a potential price collapse.

XRP Struggles to Hold as Selling Pressure Mounts

BeInCrypto’s 1-day XRP/USD chart review reveals that the token’s price has been oscillating between $2.76 and $2.30 since February 3. When an asset trades within a range like this, its price moves between a defined support and resistance level without breaking out in either direction, indicating a balance between buying and selling pressure.

However, the increasing bias against XRP suggests a potential breakout of the support at $2.30 in the near term. The increasing sell-off, highlighted by the money flow of XRP (CMF), reflects this. At the time of publication, the indicator is below the zero line at -0.04.