XRP is under significant bearish pressure across intraday timeframes after breaking key support around the $2.03 zone. Multiple chart patterns and technical indicators align to suggest a continued downside, with only brief relief rallies likely. Let’s dissect the structure and momentum for the next price direction.
Chart Patterns
- Head and Shoulders (1H):
A clean head and shoulders breakdown occurred around the $2.04 level. The neckline breach confirmed the bearish reversal, pointing to a measured move toward $1.65.
- Rising Wedge (30M):
A rising wedge breakdown accelerated the sell-off. This bearish pattern broke sharply, with the price reaching the projected target near $1.70.
- Bear Flag (15M):
After the initial drop, XRP formed a bear flag and continued lower. The pattern reinforced short-term bearish continuation with low-volume consolidation followed by a strong move down.
- Descending Channel (1H–15M):
Price is trending within a well-defined descending channel. As long as XRP remains within this structure, the bias stays bearish.
Technical Indicators
- Bollinger Bands:
Price rides the lower band across all timeframes, reflecting strong downside momentum. While this suggests a potential short-term bounce, no reversal signal is present yet.
- MACD:
Bearish crossovers on 1H and 30M charts, with widening histograms, confirm growing downside momentum. Only the 15M MACD shows a slight loss in momentum, not enough to reverse the trend.
- EMA (20/50):
Price is below both the 20 and 50 EMA on all short-term charts. These EMAs continue to act as dynamic resistance, especially near the $1.83–$1.90 range.
- RSI:
Oversold on the 15M chart (below 25), which could trigger a brief bounce. RSI on the 1H and 30M remains weak, suggesting bearish control persists.
Support & Resistance
- Resistance: $1.83, $1.90
- Support: $1.70, $1.60
- Major Flip Zone: $2.03 (now strong resistance)
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Fundamental Drivers
XRP remains weighed down by unresolved regulatory uncertainty with the SEC, stalling broader institutional interest. Meanwhile, Bitcoin consolidation has dampened altcoin momentum. On-chain XRP Ledger development continues, but short-term price action is dictated by risk-off sentiment and broader crypto weakness.
Price Target & Outlook
The trend is bearish across all short-term timeframes. As long as XRP fails to reclaim $1.90, downside pressure remains. The next targets are $1.70 and $1.60. A bounce may occur from oversold RSI levels, but without volume and reclaim of key EMAs, rallies are likely to be sold into.
XRP needs a clear break above $1.90 with volume to shift sentiment. Until then, caution favors the bears.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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