The crypto market is buzzing with uncertainty, and XRP is no exception. After a sharp move down from the recent high of $2.650, XRP has entered a short-term bearish phase — but could this be the perfect bear trap setup?
XRP Slides Below Key Levels
Following Bitcoin and Ethereum’s recent corrections, XRP saw a retracement that broke below $2.60 and $2.55, dipping as low as $2.348. The price is currently consolidating and attempting to stabilize near the $2.350 support zone.
Key technical signals include:
XRP is trading below $2.50 and the 100-hour SMA, signaling short-term pressure.
A bearish trend line is forming with resistance near $2.420 on the hourly XRP/USD chart.
Price is hovering below the 23.6% Fibonacci retracement level from the $2.650 to $2.348 drop.
Bullish Bounce or Further Fall?
Despite the bearish momentum, bulls are holding the line at $2.350. If XRP can sustain this level, we could see a rebound attempt:
Immediate resistance lies at $2.420, the trendline barrier.
A successful break above $2.450 opens the door to $2.50 — a crucial level aligned with the 50% Fib retracement.
Surpassing $2.50 could trigger a rally toward $2.60, and possibly retest $2.650 or even $2.680.
If bulls truly take charge, $2.80 may be the next target.
What If Support Breaks?
However, if XRP fails to break back above $2.50, more losses could follow:
Key support is seen at $2.350, followed by $2.320.
A decisive break below $2.320 could expose XRP to further downside toward $2.20.
The next major floor stands at $2.120.
Technical Snapshot
MACD (Hourly): Gaining momentum in the bearish zone.
RSI (Hourly): Below 50, suggesting weak bullish momentum.
Major Support: $2.350, $2.320
Major Resistance: $2.420, $2.50
Bottom Line
XRP is at a critical juncture — if bulls can reclaim the $2.50 level, a strong reversal could be in play. But failure to hold support at $2.350 might trigger deeper losses.
Is this a bear trap — or a warning of more pain a
head?
Stay tuned and manage your risk accordingly.
