- XRP tests long-term support after rally to $2.40 and renewed selling pressure.
- Analyst says repeated support tests since Dec 2024 raise breakdown risk.
- XRP faces Fib resistance levels at $1.95–$2.05, downside risk toward $1.70.
XRP price at key support remains in focus as technical indicators show higher negative risk and possible volatility. At press time, XRP traded at $1.87, recording a decline of 2.93% over the past 24 hours, with a reported 24-hour trading volume of $3.06 billion and a market capitalization of $113.65 billion.
Recent market action shows XRP rallied to $2.40 before encountering strong selling pressure. Technical commentary notes that momentum indicators, including the stochastic RSI, failed to sustain a move above neutral levels and rotated downward, signaling weakening bullish momentum.
Repeated Support Tests Raise Breakdown Risk
The current price zone represents a long-term support area that XRP has tested multiple times since December 2024. According to a technical analysis shared on YouTube, the asset has touched this support roughly 10 times, which can weaken the level over time. The analyst highlighted a similar technical structure in 2022, when repeated support tests preceded a broader market downturn.
If the support fails, analysts identified a possible downside target of $0.77-$1.30–$1.50, based on historical price action from August 2021. These levels represent prior lower highs and could act as future demand zones if the current floor breaks.
Trendline Resistance and Scenario Projections
According to an XRP/USDT chart reported by Whale Factor, XRP is trading above the resistance trendline from a recent peak at $2.40. Fibonacci retracement marks the next resistance levels near $1.95 and $2.05, which could act as upside barriers in a rebound scenario.
In addition, two primary technical scenarios remain in play. A bullish case would require breaking above the two Fib levels before a potential move toward the $2.10–$2.20 region. Conversely, a bearish continuation could push XRP below the $1.80–$1.85 support zone, with a projected move toward $1.70.
Related: XRP Price Prediction: $1.80 Support Holds As Volume Explodes 184% On Bounce Attempt
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Source: https://coinedition.com/xrp-at-key-support-faces-downtrend-risk-as-technical-signals-diverge/
