XRP Drops 2.72% In 24 Hours, Approaches Oversold Exhaustion

XRP, the cryptocurrency, is currently trading at $1.8107, reflecting a 24-hour decrease of 2.72%. The asset is in a bearish trend but is approaching oversold exhaustion. Technical indicators such as Bollinger Bands, MACD, and EMAs are being used to analyze the market. XRP is flowing within a clear descending channel, forming lower highs and lower lows. The rejection at EMA 20 and 50 (~$1.91–$2.03) confirms strong resistance zones. The lower bound of the channel rests near $1.66, which held during the latest sell-off.

After sideways consolidation above $2.03, XRP formed a bear flag before sharply breaking down. The target of this flag was nearly met at $1.66, showing precise technical behavior. On the 1H and 15m charts, XRP shows a potential W-reversal forming at $1.66–$1.70, which may confirm on a bullish breakout above $1.80–$1.85. Price is below both EMA 20 & 50, confirming ongoing bearish dominance. Bollinger Bands are wide, price hugging the lower band, suggesting oversold conditions. MACD: Histogram shows decreasing negative momentum, hinting at potential momentum shift.

Short-term divergence forming on MACD — lower lows in price vs. higher lows on MACD. If XRP breaks above $1.78–$1.80 on volume, a short-term rally may trigger. XRP building a rounded bottom, testing resistance at $1.75–$1.78. A confirmed breakout here would validate the W-pattern and initiate a bullish leg. Major support zones include $1.66 – Local double bottom and historical demand zone, and $1.60 – Final support before freefall toward $1.40. Major resistance zones include $1.80–$1.85 – Minor resistance; breakout zone, $1.91 (EMA 20) – Mid-level resistance from Bollinger mid-band, $2.03 (EMA 50 / Broken Support) – Major resistance for trend reversal confirmation, and $2.18 – Previous Bollinger Band top; strong sell wall.

EMA 20 (approx. $1.91) and EMA 50 (approx. $2.03) are both sloping downward, confirming medium-term downtrend. A break and close above $2.03 on the 4H would begin shifting momentum toward bullish territory. If $1.66 holds, and XRP breaks above $1.80, the following targets are expected: Day 1 (April 9): Consolidation around $1.75–$1.80, Day 2 (April 10): Retest of $1.91 (EMA20), Day 3 (April 11): Potential breakout to $2.03–$2.10. If XRP fails to hold $1.66: Immediate drop to $1.60, possibly $1.50. Momentum favors bears below $1.60 unless a major reversal candle forms.

XRP is nearing exhaustion in its bearish cycle, with early reversal signals showing up on the 15m and 1H timeframes. A break above $1.80–$1.85 would open room for a 3-day rally targeting $2.03–$2.10, but failure to hold $1.66 support could send XRP to $1.60 or lower. This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.