XRP to Lose $2 If This Bearish Bollinger Bands Pattern Validates

There are signs of weakness in XRP on the weekly chart, and the current price action hints that it may move lower. Trading at around $2.34, down over 3% for the week, XRP is having difficulty staying above the midline of the Bollinger Bands — a level that often plays the role of short-term support or resistance depending on trend direction.

For the past several weeks, the range of price movements has narrowed, and momentum has faded. 

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Concurrently, the Bollinger Bands started to tighten, a sign that typically foreshadows a larger breakout or breakdown. The lack of follow-through after repeated attempts to recapture the $2.42 area hints that the market may be leaning toward the downside.

As of now, $1.87 is the lower boundary of the Bollinger Bands. Should XRP break below the $2.20 support level, a potential 22% drop toward the lower band awaits. XRP would then return to levels last seen during the early stages of the rally that began in late 2024.

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Unfortunately, bulls do not have much to look forward to based on the structure of the weekly chart. Since its February peak, XRP has been forming lower highs and has yet to establish a strong base above the 20-week moving average. Until there is a clear push back above $2.60, there is little conviction in any upward attempts.

Pay attention to how XRP behaves around the $2.20 mark for now. A break below that level could confirm a trend shift with deeper downside potential. Those watching this setup should stay alert in case bearish momentum accelerates in the upcoming sessions.