Should you buy XRP before the next big step?
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 #XRP's price hold steady or decline in the coming days? In this article, we analyze the latest chart signals, examine technical indicators, and provide price predictions 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 continuing downtrend. Red candles with little to no upper wicks indicate strong downward pressure with slight relief from buyers. XRP's 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 zone. This indicates weak momentum, and unless a bounce occurs soon, the price $XRP could 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 realizing significant profits, leading to a notable wave of profit-taking.
In early June, data shows that these early holders began 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 levels?
The Fibonacci retracement from the swing low near $1.50 to the May high of $2.87 shows key levels that the market is testing now.
Support Zone 1: $2.05 (0.618 retracement)
Support Zone 2: $1.86 (0.786 retracement)
Key psychological support: $2.00
If Ripple's price fails to maintain the $2.05 level, we may see a retest of the $1.86 area. This represents an approximate decline of 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 break above $2.30 could trigger short position covering and attract new buyers.
Can Ripple's price bounce?
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 is likely to bounce towards $2.30. If #XRP manages to reclaim $2.30, we could see a price increase of 11.33%.
However, to achieve this, buyers must intervene quickly to prevent further erosion of confidence. Watch for a long-bodied green Heikin Ashi candle - it could indicate seller exhaustion.
XRP Price Predictions: What is likely this week?
The current chart shows that XRP's price is at a critical moment. Based on recent price behavior, here’s what might 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: Stabilization between $2.00 and $2.15
Considering the RSI and price movement, the bearish outlook seems more likely at the moment unless trading volumes increase in the coming days.
XRP's price is holding support at $2.05. While a bounce is possible, 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 significant recovery.
