XRP price retreats to $2.22 support as failed breakout triggers bearish short-term momentum
XRP price compresses below resistance as bearish momentum builds around $2.22 support level
XRP has slipped into a technical compression phase after multiple failed attempts to clear resistance near the $2.50–$2.60 zone. The asset is now consolidating below the 0.5 Fibonacci retracement level on the weekly chart, with repeated upper wicks suggesting persistent supply pressure near $2.40. This prolonged struggle at resistance, coupled with weakening intraday momentum, has shifted the short-term structure toward a bearish tilt.
Key highlights
- XRP fails to break $2.50–$2.60 resistance and drops to $2.22 support
- Bearish crossover in MACD and RSI below 30 indicate further downside risk
- Weekly consolidation below 0.5 Fib level reflects indecision amid broader market resistance
The 4-hour chart shows XRP closing below its 20/50/100/200 EMA cluster, while the latest candle has pierced the lower Bollinger Band. This breach suggests that the asset is experiencing short-term weakness, potentially preparing for volatility expansion.
XRP price dynamics (Source: TradingView)
Price is currently testing the $2.22 support, a level that previously cushioned declines during the June 8–9 consolidation phase. A clean breakdown from this area may extend losses toward $2.18 and $2.16.
Short-term structure points to bearish control
The 30-minute timeframe reflects a breakdown below a rising trendline, with price now retesting the $2.22–$2.24 demand zone. A successful defense of this level could signal early reaccumulation, but lower highs and lower lows indicate that bearish pressure remains dominant for now. The RSI has fallen to 29.76, deep in oversold territory, while MACD shows a bearish crossover and expanding negative histogram bars—both reinforcing downside bias.
Despite the short-term weakness, XRP remains in a broader consolidation phase above the $2.00 psychological level. Bulls will need to reclaim $2.28 to invalidate the immediate bearish structure and regain upside momentum. Until then, traders should closely watch price behavior around the $2.22 zone for clues on whether a rebound or a breakdown is more likely to unfold.
In earlier analysis, we identified the $2.50–$2.60 resistance band as a major ceiling, with $2.22 serving as short-term demand. This range remains intact, and recent price action confirms the importance of $2.22 as a key level. A breakdown would shift focus toward deeper support, while a rebound above $2.28 is needed to revive bullish sentiment.
