XRP is trading near $2.15, but technical indicators suggest a possible decline toward the lower end of its recent range. This outlook poses challenges for holders anticipating a swift recovery.
The price recently closed below the mid-line of the Bollinger Bands, currently at $2.32—a key support level in recent weeks. This breach shifts the risk toward further downside.
If the downward trend persists, the lower Bollinger Band near $1.85 will be critical. XRP has not fallen below this level since April, and previous tests of this band have often led to quick rebounds, though there is no certainty of a repeat.
Market conditions are calmer now compared to the heightened volatility seen during the December to February rally, which featured strong buying activity.
The upper Bollinger Band stands at $2.79, while the mid-line’s role as support is weakening. This suggests sellers currently dominate the market, or at least deter new long positions.
Currently, the $2 level acts as a psychological barrier. Analysis of recent candlesticks indicates a potential retest of $1.85 within the next one to two weekly closes.
Without a decisive move back above $2.32, XRP may experience a gradual decline toward the lower Bollinger Band, with a drop below $2 serving as a critical tipping point.
The countdown to this possible move appears to be underway.