- XRP’s drop from $3.50 shows bearish momentum, with $2.90 now key support; failure could expose $2.55–$2.40 zone.
- RSI at 51.54 signals cooling momentum, while MACD crossover below signal line confirms rising sell side pressure.
- Volume at 21.12M suggests active trading; breakdown below $2.90 may push XRP toward $1.90 if bearish trend intensifies.
XRP has entered a correction phase after a sharp mid July rally that drove its price from $2.20 to over $3.60. The asset, which peaked above $3.50, has since lost momentum, with its current price just above the key psychological support at $3.00.
According to analyst Ali, XRP could find crucial support between $2.55 and $2.40. This change in price action, combined with technical indicators, points to a potential test of lower levels if current support zones fail to hold.
Bearish Momentum Builds as Key Support Faces Test
XRP fell from a rejection point near $3.50, reversing gains achieved during the recent 60% breakout. The $2.90 region now acts as immediate support, aligning with a previous breakout level. This area is key, as the current candle is slightly above it.
However, recent price action shows three consecutive lower closes, including a strong bearish engulfing candle. This has placed short term bullish control at risk, with sellers starting to gain the upper hand. If the $2.90 support fails, XRP may target the next zone near $2.55.
MACD and RSI Show Cooling Market Conditions
Technical indicators further confirm the weakening bullish pressure. The RSI is at 51.54, down from earlier overbought levels above 70. This change indicates that XRP is no longer in overheated level and is currently in a neutral range.
Meanwhile, the MACD paints a more bearish picture. The MACD line has crossed below the signal line, with a histogram reading of -0.0690. This crossover suggests that downward momentum is increasing, aligning with recent price action.
Notably, XRP’s trading volume is at 21.12 million, indicating active market participation. However, declining price levels paired with growing sell side volume could pressure support zones further.
$2.55–$2.40 Support Range Becomes the Focus
Should the current $2.90 level break down, the market could shift toward the $2.55–$2.40 range. This zone held firm as resistance from February through May and could now act as support following July’s breakout.
If XRP holds this area, it may stabilize and attempt a move back toward $3.30–$3.50. However, continued selling pressure and increased volume on red candles could lead to a move toward $1.90.
RSI above 55 and higher volume would be needed to reclaim the bullish path. XRP is in a key range, with the next sessions likely determining whether bulls can defend key support levels.
