XRP price stabilizes near $2.13 after rejecting resistance and retesting support at lower zone
XRP rebounds from $2.08 support as short-term indicators hint at relief bounce possibilities
XRP is attempting to stabilize after a sharp decline from the $2.33–$2.35 range, with price action now consolidating around $2.13. The asset found support near the $2.08–$2.10 zone, an area that aligns with a long-term ascending trendline from April and the 0.382 Fibonacci retracement on the weekly chart.
Key highlights
- XRP holds support near $2.10 after rejecting $2.33 resistance
- 4-hour RSI and MACD show early signs of recovery from oversold levels
- Price must reclaim $2.23–$2.26 to confirm trend reversal
The broader crypto market has shown weakness in recent sessions, and XRP has mirrored that downturn, although indicators now suggest the potential for a short-term recovery.Following the recent drop, technical indicators show early signs of easing bearish momentum.
XRP price dynamics (Source: TradingView)
The 4-hour RSI rebounded from sub-30 levels to 29.4, while MACD lines are beginning to converge. Stochastic RSI is also reversing higher with a bullish crossover, pointing to a possible relief bounce if buying pressure continues.
However, the Ichimoku Cloud on the 30-minute chart reflects continued downside control, with price still below the cloud and key lines trending lower. For bullish continuation, XRP must reclaim the 20-EMA and 50-EMA at $2.23 and $2.24, respectively.
Why XRP price going down today
The XRP price going down today can be attributed to technical rejection from the descending trendline that has repeatedly capped rallies since late May. Price failed to sustain above the $2.20 level, triggering stop-loss cascades and leading to the swift pullback to $2.10. This decline coincides with broader altcoin weakness, which has placed additional pressure on XRP's fragile short-term structure.
If XRP breaks below $2.08, the next support lies at $2.00 and then $1.92, the latter representing the 0.618 Fibonacci retracement from the November 2024 low to the 2025 high. Conversely, a successful defense of the current support zone could see a push toward $2.18, with $2.26 as the next major test for bulls.
In our previous analysis, we flagged $2.22–$2.28 as critical for confirming bullish reaccumulation. With price now correcting toward the $2.08 region, traders should watch for consolidation above this level to assess the probability of a rebound or deeper breakdown.
