XRP Battles Bearish Storm, Support Levels Tested

XRP, the native cryptocurrency of the Ripple network, is currently grappling with significant bearish momentum, as indicated by a decline in active addresses and waning buying interest. The Relative Strength Index (RSI) has reached a three-month low, suggesting heightened selling pressure. If XRP falls below the critical support level of $2.33, it risks dropping to $1.94, further compounding investors' losses.

However, a bounce from the $2.33 level could see XRP reclaiming the $2.70 mark, potentially invalidating its current bearish outlook and igniting a recovery. The market is closely watching for critical support levels that could dictate XRP's future trajectory, as the cryptocurrency struggles with bearish momentum and low buying interest.

The recent performance of XRP illustrates a troubling trend, with the cryptocurrency experiencing ongoing seller dominance. The current price action has seen XRP dip severely as investor interest wanes, suggesting a precarious situation for current holders. The Price Daily Active Addresses (DAA) Divergence indicator is currently signaling caution, as it reflects a drop in network activity alongside falling prices.

This decrease in active addresses is particularly concerning and suggests that demand is faltering, which could exacerbate XRP's price decline. Investors' reluctance to engage in buying amid dominant bearish conditions creates a challenging environment for recovery. The negativity surrounding XRP might indicate a broader sentiment shift within the altcoin market, which is critical to monitor as the situation unfolds.

The Relative Strength Index (RSI) of XRP has recently dipped to a three-month low, signaling intensified selling pressure. Such a significant drop in the RSI reflects an environment where sellers dominate market sentiment, suggesting that continued bearish pressure may be imminent. If the current trend persists, XRP risks entering oversold territory, which often indicates undervaluation. Traditionally, this could spark a price recovery; however, historical analysis reveals that XRP has experienced prolonged bearish phases that may override rapid rebounds.

Trading currently around $2.37, XRP tests its critical support level of $2.33. Despite momentary stabilization, the prevailing bearish indicators suggest the altcoin may find it arduous to initiate a recovery unless significant market conditions shift. The outlook remains grim, with projections indicating that if XRP loses its foot