Should you buy XRP before the next big move?
Price $XRP
XRP
2.1782
+9.13%
It 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 #XRP price hold steady or decline 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 Prediction: Is it losing its bullish strength?
XRP/USD Daily Chart
Heikin Ashi candles clearly show a continued downward trend. Red candles with little or no upper wicks indicate strong downward pressure with slight relief from buyers. XRP 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, well below the neutral 50 area. This indicates weak momentum, and unless a rebound occurs soon, the price $XRP may slip into the oversold region (below 30), increasing the risk of panic selling.
XRP is currently trading above $2.00, registering gains of over 300% from its baseline price before the sharp rise in November 2024. Early investors who accumulated during the low ranges are now making significant profits, leading to a notable wave of profit-taking.
In early June, data shows that these 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 that the market is now testing.
Support Zone 1: $2.05 (0.618 retracement)
Support Zone 2: $1.86 (0.786 retracement)
Key psychological support: $2.00
If the Ripple price fails to maintain the $2.05 level, we may see a retest of the $1.86 area. This represents a decline of approximately 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 $2.30 could trigger short position covering and attract new buyers.
Can the Ripple 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 structure or shows bullish divergence in the RSI, it may likely rebound towards $2.30. If #XRP manages to regain $2.30, we could see a price increase of 11.33%.
However, for that to happen, buyers must intervene quickly to prevent further erosion of confidence. Watch for a long-bodied green Heikin Ashi candle - this may indicate seller exhaustion.
XRP Price Prediction: What is likely this week?
The current chart shows that the XRP price is at a crucial moment. Based on recent price behavior, here’s what may happen during the next five to ten trading sessions:
Bearish forecast: Break below $2.05 → Target $1.86
Bullish forecast: Rebound above $2.10 → Target $2.30
Neutral forecast: Consolidation between $2.00 and $2.15
Considering the Relative Strength Index and price action, bearish expectations seem more likely right now unless trading volumes increase in the next few days.
XRP price 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 increasing trading volume. Otherwise, prepare for a potential drop towards $1.86 before any significant recovery.