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Despite previous attempts at recovery, bullish momentum remains weak, raising concerns about a deeper pullback. Investors are now closely watching key resistance and support zones to determine XRP’s next move.

XRP’s decline coincides with the broader crypto market losing steam. Bitcoin’s inability to sustain gains above $100,000 has cast a pall over the entire sector, weighing on large altcoins such as XRP. The bearish-to-neutral sentiment in the market has stalled a significant recovery, with traders refusing to take aggressive long positions.

XRP is stuck in a tight range between $2.47 and $2.75, awaiting a breakout or breakdown for direction. Source: Morecryptoonl via X

Additionally, the loss of bullish pressure has invited more sell-offs. XRP bulls had been holding the $2.50 level, but the failure to see aggressive buying volume made it a losing game. The downside move below the level suggests that bears have temporarily taken charge and makes additional losses likely in the absence of buying pressure.

Technical analysis shows that XRP has fallen below the 100-hourly Simple Moving Average (SMA), which is supportive of the bearish momentum. The Relative Strength Index (RSI) has also fallen below the midline of 50, which indicates waning buying strength. If the trend continues, XRP could feel more pressure lower.

The $2.40-$2.10 range remains a critical support zone for the XRP price. Source: Morecryptoonl via X

These resistance levels to watch are $2.60 and $2.70. A higher breakout than these is a sign of a reversal, but their inability to regain these levels can be a sign of a downtrend. On the downtrend side, the major supports are $2.40 and $2.32. Without these points held by XRP, retesting of the area near $2.20 could be in the plans.

Investor sentiment is the primary driver behind XRP price action. The latest whale trade of 40 million XRP has sparked rumors about liquidity issues on exchanges, which have added to market jitters. Regulatory uncertainty, particularly the SEC’s ongoing watch on the crypto market, has also made traders risk-averse.

Ripple (XRP) was trading at around $2.49, down 2.93% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

Macroeconomic environments have also had a role in influencing the market. Weakened U.S. dollars and reduced Treasury yields have had their influence on the risk appetite of investors, creating unstable digital asset price actions. While some long-term possibilities favor XRP even in spite of short-term pressures, day-to-day uncertainty is still a bane to long-side traders that need to reestablish dominance.

For XRP to establish a clear uptrend, it must regain stability above the $2.50 mark and break through key resistance levels. Bulls need to generate strong buying pressure to counteract recent sell-offs. A break firmly above $2.70 could trigger optimism once again and push XRP towards the $3.00 level.

According to the daily chart, XRP still holds inside a bullish price channel. Source: MissouriTim on TradingView

However, if the bearish trend continues, XRP can still move lower towards lower support levels. The coming days will be pivotal in determining whether bulls are able to pick up momentum or the market will continue under bearish dominance. Until a breakout, or the next positive news cycle, traders are warned to be vigilant and closely monitor price action. What could provide positive news in the market? The most likely bullish catalyst remains the approval of U.S. spot XRP ETFs. This remains highly likely to happen in 2025, under a pro-crypto SEC and pro-crypto President Trump. Polymarket odds of a Spot XRP ETF approval are over 80%. Traders and XRP investors simply have to be patient.

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