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The crucial 50-day EMA support level, which had been a technical pivot and a lifeline during XRP's recent consolidation phase, was lost, and the cryptocurrency is now under pressure once more. The asset is now more vulnerable to downside risk due to the moving average breakdown, and the price is currently having difficulty regaining short-term momentum. As of right now, XRP is trading at about $2.17.
It has fallen below both the 50 EMA (around $2.18) and the descending trendline that has been stifling price action since early Q1. Recent bullish attempts to break through the long-standing downtrend are undermined by this noteworthy rejection. There are three price points that warrant careful consideration going forward.
$2.00: This level corresponds with psychological round-number support and the 200-day EMA. It served as a launching pad for the price recovery in early April, and a return to this area would put the overall upward trend of XRP to the test. A significant bearish indication would be a failure here.
$1.95: This is a critical level that correlates with a previous breakout zone and the lowest boundary of the channel in which XRP has been trading. The bullish structure would completely collapse if the price fell below this, which might start a chain reaction that would lead to lower supports.
$2.22: On the upside, this is the immediate resistance that is located at the intersection of the descending trendline and the 50 EMA.
A retest of the $2.40 zone would be possible if there were a clear break and close above this level, invalidating the current bearish momentum. The RSI at 49 indicates neutral-to-slightly-bearish sentiment, and the volume is still moderate but unimpressive.
XRP appears ready to continue its gradual decline toward more robust support absent a dramatic reversal or an abrupt surge in buying pressure. The path of least resistance is pointing downward unless buyers intervene quickly, and the market will be closely monitoring those three levels.
Vladislav Sopov