$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 of #XRP hold steady or decline in the coming days? In this article, we analyze the latest chart signals, assess technical indicators, and provide price forecasts using real calculations. In our previous analysis, we already anticipated 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 continuing bearish trend. Red candles with little or no upper wicks indicate strong bearish 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 bounce occurs soon, the price of $XRP may slip into oversold territory (below 30), increasing the risk of panic selling.
XRP is currently trading above $2.00, marking gains of over 300% from its base price before the sharp rise in November 2024. Early investors who accumulated during the lower 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 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 Area 1: $2.05 (0.618 correction)
Support Area 2: $1.86 (0.786 correction)
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 breakout above $2.30 could trigger short position covering and attract new buyers.
Can the price of Ripple bounce?
While the current structure prefers 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 Relative Strength Index, it is likely to bounce towards $2.30. If #XRP manages to reclaim $2.30, we might 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 – this may indicate seller exhaustion.
Price Forecast for #XRP: What is likely this week?
The current chart shows that XRP 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 forecast: Break below $2.05 ← Target $1.86
Bullish Forecast: Bounce above $2.10 ← Target $2.30
Neutral forecast: Stabilization between $2.00 and $2.15
Considering the Relative Strength Index and price action, bearish forecasts seem more likely right now unless trading volumes increase in the coming days.
XRP price holds support at $2.05. While a bounce 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.
