XRP is trading at around $2.15, but the volatility indicators suggest it could go down to the lower end of its recent range, which could be bad news for anyone holding out for a recovery.
The chart shows a clear dip below the mid-line of the Bollinger Bands, which is a level that technical traders usually watch as a support or resistance pivot. This mid-line, currently at $2.32, has kept the price afloat in recent weeks, but XRP's latest weekly close under that threshold has shifted the risk balance.
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If it keeps going, the lower band near $1.85 will be important — that's a zone where there hasn't been much buying pressure for a few months.
XRP price hasn't been below $1.85 since April, and each time it tested the lower band in the past, it usually bounced back quickly. But there's no guarantee this time.
At the moment, things are a lot calmer and more stable than they were in the December-February rally, which was all about higher volatility and strong buyer activity.
Bears dominate
The upper band is now at $2.79, and the mid-line is losing its importance as a support level, so it looks like market momentum is favoring sellers — or at the very least, keeping traders who aren't in long positions from entering the market.
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For now, the $2 mark is more like a psychological barrier, but if you look at the current candle structures, it seems like a full retest of $1.85 could happen within the next one to two weekly closes.
Unless the bulls step in soon and reclaim $2.32 with conviction, XRP might be in for a slow bleed down to the lowerBollinger Band — with a drop below $2 acting as the tipping point.
The countdown might have just begun.
