After a strong rise, a retracement occurred, and XRP price has maintained the support at $2.22.

XRP (Ripple) price once strongly broke through the $2.30 mark, performing impressively among several mainstream coins.

However, after reaching a local high of $2.359, the price has retraced and is currently consolidating around $2.22, testing a key support range.

Although facing short-term pressure, XRP remains at relatively high levels, and the market is watching whether it can rebound again with the support.

Bulls have temporarily lost ground, with prices retesting key technical areas.

The price of XRP has fallen below the short-term supports of $2.30 and $2.280, retreating to $2.2220, forming a temporary bottom.

The price is consolidating above $2.2220 and has not yet effectively broken through the 23.6% Fibonacci retracement level (from the $2.359 high to the $2.2220 low).

The price is operating below the 100-hour moving average, with a slightly weak short-term trend.

As the contracting triangle takes shape, the market may welcome a turning point.

From the technical chart perspective, XRP/USD is forming a contracting triangle structure on the hourly chart, with the support line near $2.22 and the resistance line close to $2.2650.

Once the price breaks through the upper resistance, the primary target will be $2.280, followed by a challenge to the $2.30 mark.

If it successfully stands above this range, XRP is expected to open up upward space towards $2.35 or even $2.42.

If the support fails, it may face new downward pressure.

Although there is still an expectation of rebound in the overall trend, if the price continues to be under pressure below $2.2650 and breaks the key support at $2.22, it may trigger more selling pressure.

The next important support level is at $2.20; if this level is broken, the possibility of further declines to $2.16 and $2.12 will significantly increase.

Technical Indicator Overview

  • MACD: Currently in a bearish zone in the short term, with weakening momentum.

  • RSI: Below the 50 level, indicating insufficient bullish momentum.

  • Support levels: $2.22, $2.20.

  • Resistance levels: $2.2650, $2.30, $2.35.

Summary: The market is in a tug-of-war, and key positions need to be closely monitored.

Currently, XRP is at a critical stage of a tug-of-war between bulls and bears.

If the price can maintain support and break through the short-term resistance, it is expected to regain upward momentum and challenge higher target levels; on the contrary, if the support fails, the risk of short-term adjustments will increase.

Investors should closely monitor the performance of the two key points at $2.22 and $2.2650 to determine the direction of the next trend.