Price $XRP
is under pressure again, having 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 wondering: Will the price #XRP hold steady or drop in the coming days? In this article, we analyze the latest chart signals, examine technical indicators, and provide price forecasts using real calculations. In our previous analysis, we already predicted that XRP would lose its bullish strength.
XRP price forecast: Is $XRP losing its bullish strength?
XRP/USD Daily Chart
Heikin Ashi candles clearly show a continuing downward trend. Red candles with little or no upper wicks indicate strong downward pressure with slight relief from buyers. The price of XRP has failed to close above $2.10 for several sessions now, which is a bearish signal considering former support is turning into resistance.
The Relative Strength Index (RSI) currently stands at 35.49, well below the neutral 50 area. This indicates weak momentum, and unless a bounce occurs soon, the price $XRP may slip into oversold territory (below 30), increasing the risk of panic selling.
XRP is currently trading above $2.00, registering gains of over 300% from its base price before the sharp rise in November 2024. Early investors who accumulated during the low ranges are now taking significant profits, leading to a noticeable wave of profit-taking.
In early June, data shows that early holders started distributing their holdings at an average rate of $68.8 million daily (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?
The Fibonacci correction from the swing low near $1.50 to the May high at $2.87 shows key levels the market is testing now.
Support area 1: $2.05 (0.618 retracement)
Support area 2: $1.86 (0.786 retracement)
Key psychological support: $2.00
If the price of Ripple fails to maintain the $2.05 level, we may see a retest of the $1.86 area. This represents a drop of about 8.33% from the current level.
On the positive side, the first resistance is at $2.10, followed by $2.30 and $2.50. A breakout above the $2.30 level could trigger short position cover and attract new buyers.
Can the price of Ripple bounce back?
While the current structure favors declines, Ripple has a history of quick reversals near the $2 level. If the price forms a double bottom structure or shows bullish divergence in the RSI, it could bounce towards $2.30. If #XRP can reclaim $2.30, we may 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 - it could indicate seller exhaustion.
Price forecast #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 could 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: Consolidation between $2.00 and $2.15
Considering the RSI and price action, the bearish outlook seems more likely at the moment unless trading volumes rise in the coming days.
The price of XRP is holding support at $2.05. While a bounce is possible, the overall momentum is weak, and buyers are clearly hesitant. If you are considering entering, wait for a clear signal above $2.10 with increased trading volume. Otherwise, prepare for a potential drop towards $1.86 before any tangible recovery.