Since mid-May, $XRP has been moving in a downward trend - at the time of writing this material, it is trading at $2.16. The altcoin remains above the key support level at $2.12, but forecasts indicate a possible decline. If XRP breaks the support at $2.12, it risks falling to $2.02 or even lower - to $1.94. This would be a two-month low that could trigger increased selling pressure.
The relative strength index (RSI), which is below the neutral line in the bearish zone, confirms this forecast, indicating a lack of buying momentum.
However, there is a factor that could change the direction of the altcoin - the ETF on XRP. This is one of the most anticipated ETFs that has not yet received approval. When this happens, it is expected to attract significant investments into XRP. However, Alexis Sirchia stated that the next step for XRP may not be an ETF.
Thus, such exposure could significantly support the price. Moreover, if small investors begin to buy XRP sold by long-term holders, the altcoin could bounce off the support level of $2.12. A breakout above the resistance level of $2.27 would negate the bearish scenario and raise the price of XRP to $2.50.
