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Key Takeaways:XRP fell 4.5% over 24 hours, slipping from $2.254 to $2.164 amid increased sell pressure.Critical resistance has formed at $2.20, with technical indicators signaling a continued downtrend.Macroeconomic uncertainty and recent ETF rejections weigh heavily on investor sentiment.XRP is down nearly 9% for the week as traders await a clearer bullish catalyst.XRP’s price dropped sharply in the past 24 hours, falling 4.5% from $2.254 to $2.164 as bears took control of the market. The move pushed the Ripple-affiliated token below several key support levels, triggering renewed downside pressure as volume surged at resistance zones.The token now faces strong resistance at $2.20, a level that has repeatedly rejected upward moves in recent sessions. Market sentiment around XRP remains fragile, driven by a mix of macroeconomic concerns, regulatory uncertainty, and fading momentum in the altcoin sector.Macroeconomic Factors Weigh on XRPThe current pullback comes amid broader weakness in crypto markets caused by rising geopolitical risk and investor caution. Continued trade tensions between the U.S. and China, as well as diverging signals from global central banks, have clouded the risk outlook.In addition, the recent rejection of several crypto-related ETFs has dampened optimism across the market. While Bitcoin remains relatively resilient near the $105,000 level, altcoins like XRP have been hit harder by the shifting sentiment.Ripple Developments Offer Long-Term Promise, but Short-Term Catalysts LackingDespite near-term bearishness, Ripple’s long-term roadmap remains active. Traders are monitoring the upcoming launch of Ripple’s RLUSD stablecoin and its expanding infrastructure efforts in crypto-friendly regions such as Dubai and Singapore.However, these developments have yet to translate into upward price movement. XRP has now dropped nearly 9% over the past week, with technical analysts warning of further downside unless a major catalyst emerges.Technical Analysis: Downtrend Confirmed, Key Levels in FocusTechnical indicators show XRP trading within a descending channel pattern on the hourly chart — a bearish continuation signal. The heaviest selling occurred between 15:00 and 16:00 UTC, when trading volume more than doubled the daily average and firmly rejected price advances at the $2.19 level.A brief recovery attempt saw XRP touch $2.179 before quickly reversing. A second high-volume drop at 02:01 UTC pushed the token to an intraday low of $2.162, confirming a new lower low and extending the bearish structure.Support has formed around the $2.147 level, where buyers have stepped in multiple times. However, unless XRP can reclaim the $2.175–$2.20 zone with strong volume, analysts caution that another retest of $2.10 remains likely.XRP is under notable short-term pressure, down nearly 9% this week and struggling to reclaim key resistance at $2.20. While long-term developments such as Ripple’s global expansion and RLUSD rollout offer a bullish foundation, the current technical setup and macro headwinds point toward continued volatility. Traders should monitor volume trends and resistance zones closely, as any breakout above $2.20 could signal a shift in momentum.