$XRP / USD – Technical Outlook 🚨
Current Price: 2.8705 (-2.21%)
XRP is showing bearish signs on the 4-hour chart as it remains under pressure from a descending trendline and the 50-period SMA near $3.08, both acting as key resistance since the breakdown below $BTC 2.93.
Key signals include:
Multiple bearish candles, including a bearish engulfing pattern
RSI dropped to oversold levels (35.68) and has slightly recovered to 40.16, still below the neutral 50 mark
Price is currently retesting the $BTC 2.93–$2.94 area, previously strong support that now acts as resistance
Unless XRP breaks above this resistance zone decisively, the trend remains tilted to the downside. Traders should keep an eye out for bearish candlestick patterns like a shooting star or further engulfing formations near resistance.
