XRP is currently trading at $2.84, still showing bullish potential in the short term, but selling pressure is evident. The 4-hour chart indicates that if it breaks below the support level of $2.72, XRP may quickly turn bearish, potentially falling to $2.60, marking a new low since July.

Technical indicators also show pressure:

RSI is only 39, indicating significant short-term selling pressure

MACD is in the negative territory, with a weak trend

In the short term, XRP is attempting to return to the psychological level of $3 but is facing resistance. However, if it holds the support at $2.72, there is hope for a rebound in the next few hours or days, breaking the downward trend line to further test the resistance level of $3.4.

In a more optimistic scenario, if it successfully breaks through $3.4, XRP is expected to challenge the historical high of $3.8.