XRP Price Update: Bearish Pressure Builds as Key Levels Break

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XRP is showing signs of weakness in the short term. 

XRP Chart (Source Coingecko)

After an overnight drop from $2.32 to $2.22, the token is now trading below key technical levels, raising concerns of a deeper correction.

The Relative Strength Index (RSI) currently stands at 30, indicating that the asset is nearing oversold territory but hasn't entered it yet. 

Additionally, the MACD signal has turned negative, suggesting bearish momentum is picking up.

 Another key signal is that XRP has fallen below the 50-period EMA on the 4-hour chart, a sign that sellers are gaining control.

If the selling pressure continues, XRP could potentially retest the $2.12 support zone in the coming sessions.

📌 Key Levels to Watch:

  • Resistance: $2.32

  • Support: $2.22 and $2.12

  • EMA 50 (4H): Now acting as resistance

Conclusion:

Traders should keep a close eye on the $2.12 level. A break below this support could trigger further downside, while a bounce could offer a short-term recovery opportunity. As always, stay alert to market sentiment and geopolitical factors that could impact the broader crypto market.

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