Should you buy XRP before the next big move?
Price
XRP
2.18
+7.38%
Under pressure again, as it has dropped to $2.066 on the daily chart. After failing to maintain momentum above $2.50, the asset is now approaching critical support areas. Traders are now wondering: Will the price of #XRP hold its ground or decline in the coming days? In this article, we analyze the latest chart signals, assess technical indicators, and provide price forecasts using real calculations. In our previous analysis, we already predicted that XRP would lose its bullish strength.
XRP Price Forecast: Is it losing its bullish momentum?
XRP/USD Daily Chart
Heikin Ashi candles clearly show a continuing bearish trend. The red candles with little or no upper wicks indicate strong bearish pressure with slight relief from buyers. XRP price has failed to close above $2.10 for several sessions now, which is a bearish signal considering the previous support has turned into resistance.
The Relative Strength Index (RSI) is currently at 35.49, well below the neutral 50 zone. This indicates weak momentum, and unless a rebound occurs soon, the price may slide into the oversold region (below 30), increasing the risk of panic selling.
XRP is currently trading above $2.00, recording gains of over 300% from its baseline price before the sharp rise in November 2024. Early investors who accumulated during the low ranges are now realizing significant profits, leading to a noticeable wave of profit-taking.
In early June, data shows that these early holders began distributing their holdings at an average rate of $68.8 million daily (7-day simple moving average), indicating a significant phase of selling pressure and potential redistribution of tokens from long-term holders to new market participants.
Where are the key support and resistance areas?
The Fibonacci retracement from the swing low near $1.50 to the May high at $2.87 shows key levels the market is currently testing.
Support Zone 1: $2.05 (0.618 retracement)
Support Zone 2: $1.86 (0.786 retracement)
Key psychological support: $2.00
If Ripple's price fails to hold the $2.05 level, we may see a retest of the $1.86 area. This represents a drop of approximately 8.33% from the current level.
On the bullish side, the first resistance is at $2.10, followed by $2.30 and $2.50. A break above $2.30 could trigger short position covering and attract new buyers.
Can Ripple's price bounce back?
While the current structure favors declines, Ripple has a history of quick reversals near the $2.00 level. If the price forms a double bottom structure or shows bullish divergence in the Relative Strength Index, it is likely to bounce towards $2.30. If #XRP can reclaim $2.30, we could see a price increase of 11.33%.
However, to achieve this, buyers need to step in quickly to prevent further erosion of confidence. Watch for a long-bodied green Heikin Ashi candle - it may indicate seller exhaustion.
XRP price forecast: What is likely this week?
The current chart shows that XRP price is at a critical moment. Based on recent price behavior, here's what might happen over the next five to ten trading sessions:
Bearish forecast: Break below $2.05 → target $1.86
Bullish forecast: Bounce above $2.10 → target $2.30
Neutral forecast: Range between $2.00 and $2.15
Considering the Relative Strength Index and price action, the bearish forecast seems more likely right now unless trading volumes increase in the next few days.
XRP price holds support at $2.05. While a rebound is possible, the overall momentum is weak, and buyers are clearly hesitant. If you're considering entering, wait for a clear signal above $2.10 with increased trading volume. Otherwise, prepare for a potential drop towards $1.86 before any significant recovery.
