Should you buy XRP before the next big move?
Price $XRP
XRP
2.2466
+3.09%
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 zones. Traders are now wondering: Will the price of #XRP 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 $XRP its bullish strength?
XRP/USD Daily Chart
Heikin Ashi candles clearly show a continuous downward trend. Red candles with little to no upper wicks indicate strong downward pressure with slight relief from buyers. XRP has failed to close above $2.10 for several sessions now, 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 may slide into oversold territory (below 30), increasing the risk of panic selling.
XRP is currently trading above $2.00, recording gains of over 300% from its pre-surge price in November 2024. Early investors who accumulated during the low ranges are now realizing significant profits, leading to a noticeable 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 stage of selling pressure and potential redistribution of tokens from long-term holders to new market participants.
Where are the key support and resistance zones?
A Fibonacci retracement from the swing low near $1.50 to the May high at $2.87 shows key levels currently being tested by the market.
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 hold 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 break above the $2.30 level could trigger short-covering 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 $2.00 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 can reclaim $2.30, we could see a price increase of 11.33%.
But to achieve this, buyers must step in quickly to prevent further erosion of confidence. Watch for a long-body green Heikin Ashi candle - this may indicate seller exhaustion.
XRP Price Predictions: 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 may happen during the next five to ten trading sessions:
Bearish forecast: A 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 forecasts seem more likely currently unless trading volumes increase in the coming days.
XRP price holds support at $2.05. While a rebound is possible, the overall momentum is weak, and buyers are clearly hesitant. If you're 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.
