XRP has been exhibiting a concerning trading pattern, failing to reflect the confidence it once commanded just days ago. Analysis across various time frames reveals a persistent downward drift, suggesting the digital asset is struggling to find a stable foundation and may be poised for further decline if current trends persist.
XRP's Persistent Downward Pressure
Across monthly and weekly charts, XRP's inability to establish a strong base above the critical $2 mark is evident. The monthly midband, hovering around $1.82-$1.85, indicates that despite previous rallies, XRP never solidified a long-term position above this level and is now reverting to what the market perceives as fair value. Weekly candles further confirm this pressure, with XRP consistently trading below its midband near $2.69 and repeatedly touching the lower band around $1.94 without a meaningful rebound. Each attempt to climb higher has faded prematurely, signalling a diminishing buying interest and a potential for a more aggressive retest of support.
Bollinger Bands Signal a Sub-$2 Trajectory
The daily time frame reinforces this bearish narrative, with XRP sliding consistently below its midband around $2.12 for weeks. The price has frequently reached the lower band near $1.95 without showing signs of recovery, and critically, the Bollinger Bands themselves are beginning to contract and bend downward. This configuration is a strong technical indicator that momentum is not preparing for a positive shift. All signs, particularly from shorter time frames, point towards a continued trajectory into the sub-$2 region for XRP.
The Urgency for Buyer Intervention
This sustained downward pressure suggests a critical juncture for XRP. Unless a significant influx of buying strength emerges to reclaim the vital midband levels across these time frames, XRP is on course to revisit and potentially settle within the price range that the market has never truly abandoned. Bulls face an immediate challenge to reverse this trend and prevent further erosion of value.
