Price of $XRP
XRP
2.6797
+9.71%
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 questioning: Will the price of #XRP hold steady 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 anticipated that XRP would lose its bullish strength.
XRP Price Prediction: Is $XRP losing its bullish momentum?
XRP/USD Daily Chart
Heikin Ashi candles clearly show a continuing bearish trend. Red candles with little or no upper wicks indicate strong downward pressure with slight relief from buyers. XRP's 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, which is well below the neutral 50 zone. This indicates weak momentum, and unless a rebound occurs soon, the price of $XRP may slip into the oversold region (below 30), increasing the risk of panic selling.
XRP is currently trading above $2, recording gains of over 300% from its base price before the sharp rise in November 2024. Early investors who accumulated during the lower ranges are now realizing significant profits, leading to a notable 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 per day (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?
A Fibonacci retracement from the swing low near $1.50 to the May high at $2.87 shows key levels that the market is currently testing.
Support Area 1: $2.05 (0.618 retracement)
Support Area 2: $1.86 (0.786 retracement)
Main psychological support: $2.00
If the price of Ripple fails to hold the $2.05 level, we may see a retest of the $1.86 area. This represents a decline of about 8.33% from the current level.
On the positive side, the first resistance lies at $2.10, followed by $2.30 and $2.50. A break above $2.30 may trigger short position covering and attract new buyers.
Can Ripple's price rebound?
While the current structure favors declines, Ripple has a history of quick reversals near the $2 level. If the price forms a double bottom or shows bullish divergence in the Relative Strength Index, it could likely bounce towards $2.30. If #XRP manages to reclaim $2.30, we could see a price increase of 11.33%.
But to achieve this, buyers must intervene quickly to prevent further erosion of confidence. Watch for the long-bodied green Heikin Ashi candle - this may indicate seller exhaustion.
Price forecast for #XRP: What is likely this week?
The current chart shows that the price of XRP is at a critical moment. Based on recent price behavior, here’s what might happen during the next five to ten trading sessions:
Bearish outlook: Break below $2.05 → Target $1.86
Bullish outlook: Bounce above $2.10 → Target $2.30
Neutral outlook: Range-bound between $2.00 and $2.15
Considering the Relative Strength Index and price action, the bearish outlook seems more likely at the moment unless trading volumes increase in the coming days.
The price of XRP is holding support at $2.05. While a rebound is possible, 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 decline towards $1.86 before any substantial recovery.
