XRP, currently trading at $2.12, has been under significant selling pressure over the past 24 hours, experiencing a modest 2.75% decline. With a market capitalization of $123.3 billion and a trading volume of $8.09 billion, XRP continues to struggle below its previous highs, fluctuating within a narrow intraday range of $2.05 to $2.20. This price action reflects ongoing downside momentum across multiple timeframes, with the key support level at $2.12 being tested once again.

XRP’s Struggle for Recovery: A Bearish Outlook

On the 1-hour chart, XRP is showing clear signs of bearish momentum. The price has been forming lower highs, signaling strong selling pressure. Support is now being tested around $2.12, a crucial level that, if breached, could signal further downside. Resistance in the short-term lies between $2.20 and $2.30, acting as barriers for any potential recovery. A substantial shift in sentiment, such as a strong green candle forming near the $2.12 support, would be needed for a bullish reversal. Otherwise, the failure to break these resistance levels may continue to push the price lower.

The 4-hour chart further strengthens this bearish outlook, with consistent lower lows and lower highs. Support remains around $2.12, while resistance sits between $2.20 and $2.25. A short-term rally is still possible if buying pressure emerges near the support zone, but failure to maintain this level could accelerate the downward move. Traders looking for long positions may seek confirmation at the $2.12 support, while shorting opportunities may arise if the price struggles to sustain above $2.20.

Conclusion

XRP is currently at a critical juncture, with the $2.12 support level being tested amid ongoing bearish pressure. While a potential recovery is possible if buying momentum picks up, the broader trend remains tilted to the downside, with resistance levels acting as formidable obstacles. Investors should keep a close watch on price action around the $2.12 mark—if this support holds, a short-term reversal could develop. However, failure to maintain this level could lead to further declines, making it crucial for traders to stay alert to shifts in market sentiment. With significant volume and volatility, XRP’s path forward is uncertain, and both bullish and bearish scenarios remain plausible in the short term.

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