XRP has dropped 20% this week, trapped in a descending triangle below key support.
The RSI, AO, and CMF readings confirm selling pressure and fading buyer interest.
If momentum persists, XRP could test support near $1.91 before any potential rebound.
Over the past week, XRP’s price has declined steeply, plunging 18% as bearish momentum deepens.
Technical indicators reveal that confidence in the cryptocurrency is fading. Selling pressure is intensifying, and recovery signals remain weak across major timeframes.
Here’s what the charts reveal about XRP’s next move.
XRP Dips
On the 4-hour chart, XRP’s price continues to trend downward. The image below shows it trapped in a descending triangle.
Specifically, XRP has dropped below the key support at $2.72, while it has been unable to breach the resistance at $3.15.
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The Relative Strength Index (RSI) sits at 31.65, confirming strong bearish momentum as sellers maintain market control.
The Money Flow Index (MFI) supports this outlook, showing that capital outflows still outweigh inflows. The indicator currently stands at 31.65, increasing closer to the oversold threshold.
This trend highlights how selling activity remains dominant while buying interest weakens.
If this momentum holds, XRP could retest its support zone below $2.
The Awesome Oscillator (AO) on the daily chart reads around -0.37, with large red histogram bars reflecting intense bearish sentiment. The absence of green bars shows buyers have yet to regain control or even slow the downward movement.
The Chaikin Money Flow (CMF) also registers a negative reading of -0.08, pointing to heavy selling pressure and continuous capital outflows from XRP.
This pattern reinforces the view that the altcoin may continue to decline as long as it remains within a descending channel.
If bearish momentum persists, XRP’s price could slide toward the next major support at $1.91, which may determine whether the downtrend stabilizes or deepens.
From the Fibonacci retracement level, XRP is trading at $2.25, aligning closely with the 0.236 Fib level.
Failure to defend these zones could speed up XRP’s fall toward uncharted territory.
On the other hand, the immediate resistance stands at $2.58, just near the 0.382 Fib level at $2.49. A decisive breakout above these points could propel XRP higher toward the 0.618 Fib level at $3.00.
What Lies Ahead
In line with this thesis, Ryan Lee, Chief Analyst at Bitget, noted that XRP may continue to face downward pressure unless there is a change.
“XRP is encountering short-term pressure as whale transfers and exchange inflows weigh on sentiment, with key support forming between $2.10 and $2.30. A breakout toward $3.00 to $3.25 remains possible if ETF approvals materialize by late October, which would likely trigger renewed institutional inflows,” Lee told CCN.
If bullish momentum strengthens, the rally could extend further, sending the price toward the 0.786 Fib level at $3.29.
However, XRP’s price must reclaim these zones with substantial trading volume to validate any potential bullish reversal.
For now, the market structure remains firmly bearish, with consistent lower highs and lower lows forming. Unless trading volume rises alongside improving momentum indicators, XRP’s current downtrend will likely persist in the short term.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
