🚨 XRP Price Analysis: More Downside After Hitting $2.20

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XRP recently hit our target of $2.20 and is now pulling back, trading around $2.17 at the time of writing. 

XRP Chart (Source Coingecko)

This slight drop may just be the beginning of a deeper correction, based on current technical signals.

 Technical Overview

  • 4-Hour EMA50: XRP is now trading below the EMA50, which often indicates weakening bullish momentum and possible further downside.

  • RSI (Relative Strength Index): The RSI is approaching the oversold zone, suggesting that XRP may be losing buying strength. A short bounce to retest $2.20 could happen to cool off this indicator, but it's not a sign of a full recovery yet.

  • MACD (Moving Average Convergence Divergence): The MACD is flashing a bearish signal, adding to the case that the recent move up could be reversing.

What’s Next for XRP?

If current bearish indicators continue, we expect XRP to possibly drop further. 

Our next support and target level is $2.08.

Summary

  • ✅ Target $2.20 reached
  • 📉 Trading below EMA50
  • ⚠️ RSI near oversold zone
  • 🚫 MACD shows bearish momentum
  • 🎯 Next possible target: $2.08

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