Should you buy XRP before the next big move?
Price of XRP
XRP
2.1592
-5.94%
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 asking: Will the price of #XRP maintain its stability or will it decline in the coming days? In this article, we analyze the latest chart signals, examine the technical indicators, and provide price forecasts using real calculations. In our previous analysis, we already predicted that XRP would lose its upward strength.
XRP Price Prediction: Is it losing its upward strength?
XRP/USD Daily Chart
Heikin Ashi candles clearly show a continuing downward trend. The red candles with little to 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 the previous support has turned into resistance.
The Relative Strength Index (RSI) is currently at 35.49, significantly below the neutral 50 area. This indicates weak momentum, and unless a rebound occurs soon, the price may slide into the oversold area (below 30), increasing the risk of panic selling.
XRP is currently trading above $2.00, recording gains of over 300% from its base price before the sharp rise in November 2024. Early investors who bought 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 per day (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 retracement from the swing low near $1.50 to the high in May at $2.87 shows key levels that 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 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 break above $2.30 could trigger short-covering and attract new buyers.
Can the price of Ripple 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 might rebound towards $2.30. If #XRP can reclaim $2.30, we might see a price increase of 11.33%.
But to achieve this, buyers must intervene quickly to prevent further erosion of confidence. Watch for a long-bodied green Heikin Ashi candle – this could indicate seller exhaustion.
XRP Price Prediction: 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 might 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: Stabilization between $2.00 and $2.15
Considering the Relative Strength Index and price movement, bearish predictions seem more likely currently unless trading volumes increase in the coming days.
The price of XRP is holding support at $2.05. While a rebound 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 substantial recovery.
