XRP price consolidates below $2.22 as bulls face resistance at descending triangle ceiling
XRP trades near $2.22 as price stalls beneath descending triangle and 50-EMA resistance
XRP price action on June 3 reflects a stabilization phase after recent volatility, with the asset consolidating just under the $2.22 resistance mark. Following a rebound from the $2.15 support zone, price is now caught between short-term bullish attempts and medium-term structural ceilings, including the descending triangle resistance on the daily chart.
Key highlights
- XRP trades below $2.22 after bouncing from $2.15 support, facing resistance from the 50-EMA and supply zone.
- A descending triangle pattern on the daily chart limits upside below $2.32, capping broader recovery attempts.
- Momentum indicators are flattening, suggesting consolidation with a potential breakout signal forming.
The broader trend remains range-bound, with momentum indicators pointing to cautious sentiment.
Rangebound action as bulls struggle for follow-through
On the 4-hour chart, XRP has recovered modestly after holding the $2.15 support but is facing headwinds near the 50-EMA cluster and short-term supply zones between $2.22 and $2.26. Price is still holding within a minor recovery channel, but without a breakout above this corridor, bullish momentum may stall. The daily chart shows the larger descending triangle capping upside at $2.32, and price remains below the 0.5 weekly Fibonacci retracement at $2.37—reinforcing the medium-term neutral bias.
XRP price dynamics (Source: TradingView)
Volatility has remained contained. Bollinger Bands on the 4-hour chart are beginning to expand, but price is hovering near the median line, signaling a lack of directional urgency. Ichimoku analysis also points to indecision, with price floating above the base line but without confirmation of a bullish trend.
Momentum favors consolidation with breakout potential
Short-term momentum indicators support the idea of continued consolidation. RSI on the 30-minute chart has dropped to 51, and MACD is flattening just above the zero line. Stoch RSI is cycling from oversold territory, hinting at a possible bounce, though confirmation remains absent. The Chande Momentum Oscillator reflects moderate positivity, but not enough to spark a breakout without volume.
Outlook for June 4: Traders should watch the $2.22–$2.26 zone closely. A confirmed move above $2.26 may open a path to $2.32 and $2.39. On the downside, a failure to reclaim $2.22 could send XRP back to $2.15 or lower. The MACD crossover and Bollinger band compression are likely to provide early breakout cues.
XRP had been drifting under $2.32 resistance in prior updates, with multiple failed attempts to break through. That trend continues, with the current price action reinforcing the view that $2.26 must be cleared for bullish momentum to resume meaningfully. Until then, the structure remains neutral with a slight bearish tilt if $2.15 fails.
