XRP Drops Below $1.90 Amid Ongoing Selling Trends

XRP has experienced a notable decline recently, trading between a low of $1.88 and a high of $1.94 over the past 24 hours. This reflects a period of reduced volatility compared to previous weeks. The overall market scenario suggests that XRP continues to undergo a corrective phase after struggling to maintain prices above the $2.30–$2.40 range.

Key Takeaways

XRP has fallen below the $1.90 mark, trading within a tighter range.
The technical indicators indicate a prevailing bearish trend, with pressure from sellers.
Immediate resistance is noted between $2.03 and $2.07, while support is around $1.83 to $1.85.
Current market conditions suggest a consolidation phase rather than a bullish reversal.

XRP Drops Below $1.90 Amid Ongoing Selling Trends

Current Technical Analysis of XRP

Reviewing the daily XRP/USDT chart, we see that XRP is currently below both its 9-day Exponential Moving Average (EMA) at approximately $2.03 and its 21-day Simple Moving Average (SMA) at around $2.07. This positional indicator suggests that short-term selling pressure is prevailing. Furthermore, a recent bearish crossover between these moving averages indicates a lack of buying momentum and highlights the dominance of sellers in the current market.

XRP Technical Analysis
(Source: TradingView)

The Relative Strength Index (RSI) stands at nearly 40, remaining below the neutral mark of 50. This indicates weak market momentum, though it’s yet to reach deeply oversold levels. The RSI’s movement shows that while selling pressure has eased somewhat, buyers still lack the strength necessary to initiate a significant trend reversal.

Additionally, the MACD (Moving Average Convergence Divergence) indicator reflects this subdued momentum, with the MACD line sitting below the signal line and the histogram showing a slight negative value. This suggests that the market is currently in a phase of consolidation rather than turning definitively bullish, with no strong directional cues evident.

XRP MACD Analysis
(Source: TradingView)

Further analysis through the Bull Bear Power Trend (BBPT) indicator indicates ongoing bearish pressure, albeit at a reduced intensity compared to earlier points. The decrease in red bars suggests that selling strength may be weakening, but bullish pressure has not sufficiently emerged to indicate a reversal.

Looking ahead, XRP seems to be maintaining a descending trend, forming lower highs since its peak in December. The price movements observed in recent weeks imply that XRP is consolidating within a wider downtrend, rather than indicating a confirmed reversal.

In the short term, immediate resistance is identified in the $2.03–$2.07 range, while support lies around $1.83–$1.85. Until XRP regains its position above these short-term moving averages, it is likely to remain within a constricted trading range, with price direction dependent on broader market sentiment and accompanying volume.