XRP Price Forecast: Will the Downward Pressure Continue? 📉
Current Situation
The current price is around $2.13–$2.14, with a decline of about 3–4% over the last 24 hours.
The price failed to maintain momentum above $2.50, heading towards critical support levels.
Chart Analysis (Daily)
Heikin Ashi candles are trending down, with long red candles and minimal upper wicks, reflecting ongoing selling pressure.
Resistance zones converted from support at $2.10 have failed to break, reinforcing bearish sentiment.
Technical Indicators
The RSI is at around 35.5, approaching the oversold level (<30), indicating continued weakness in momentum and increased chances of a decline.
The price is above $2, but it is subject to significant profit-taking from early holders, especially after gains of more than 300% since November 2024.
Weighted data shows that early XRP holders are selling at about $68.8 million daily (7-day average), reflecting ongoing selling pressure.
Key Support and Resistance Levels
First Support: ~ $2.05 (61.8% retracement)
Second Support: ~ $1.86 (78.6% retracement)
First Resistance: $2.10
Strong Resistance: $2.30, followed by the $2.50 level.
If the support at $2.05 is broken, the price could fall towards $1.86 (~8.3% decline). On the other hand, a bounce above $2.10 could pave the way towards $2.30 (+11.3%) according to the technical structure.