Why is XRP down today (July 15)?
Bullish momentum fades as XRP struggles at 0.236 Fibonacci level
XRP’s recent bullish momentum met stiff resistance in the $2.95–$3.03 zone, corresponding with the 0.236 Fibonacci retracement level on the weekly chart.
After rallying sharply from a $2.40 base, XRP surged into a historically significant resistance band stretching from $2.85 to $3.05, an area that also triggered sell-offs in late 2024. As of Tuesday, XRP is trading at $2.87, down 2.9% intraday, as profit-taking and technical exhaustion set in.
Intraday metrics confirm waning bullish momentum
Short-term indicators are signaling buyer fatigue. On the 30-minute chart, the Relative Strength Index (RSI) has dropped to 42.1, a stark decline from its previously overbought levels. This signals weakening upward momentum after a multi-week rally. XRP is also trading below the session VWAP, with price action hugging the lower intraday bands, suggesting sellers are gaining control. This reflects a broader consolidation pattern below the March 2024 highs, where XRP is struggling to build fresh bullish traction.
Analyst: macro, legal, and technical pressures driving XRP hesitation
According to Viktoras Karapetjanc, several intersecting pressures are dragging XRP lower despite the broader market’s positive tone. These include:
-Macro jitters tied to tariffs and global economic uncertainty weighing on risk assets;
-Lack of fresh catalysts such as network upgrades or partnerships;
-The ongoing Ripple vs. SEC lawsuit, which continues to inject regulatory uncertainty into investor sentiment;
-Technical failures to clear key resistance, keeping XRP stuck in a bearish trading range;
-And whale movements and muted futures activity, which signal low conviction among large holders and derivatives traders.
Karapetjanc stated:
"XRP shows significant potential amid Brad Garlinghouse's new projects. I believe the altcoin's growth will resume soon."
Until these issues resolve or buyers regain momentum above $3.05, XRP may remain range-bound or face deeper corrections.
Recently we wrote that Ripple’s native token XRP extended its bullish breakout Monday, trading near $2.95, after clearing a multi-month descending trendline and surpassing the critical $2.71 Fibonacci barrier, a level aligned with the 23.6% retracement from the previous cycle high of $3.40.
