XRP Drops 13% Since April 7, Bearish Trend Continues

XRP is currently trading around $1.749, exhibiting signs of sustained selling pressure on the 1-hour chart. Despite the bearish sentiment indicated by multiple indicators, there is a hint of a potential short-term rebound if support holds at a critical level. This analysis examines the current state of XRP using various timeframes, technical patterns, and three core indicators: Bollinger Bands (BB), MACD, and the 20-period Simple Moving Average (SMA20).

The XRP price has experienced a sharp decline since April 7, falling from above $2.00 to a low near $1.73. A clear bear flag pattern formed during the brief consolidation phase between $1.85 and $1.95, which eventually broke down. This bearish continuation was reinforced by the MACD indicator, which showed a bearish crossover and negative histogram flip. Additionally, the price has been consistently rejected by the SMA20, serving as a dynamic resistance.

Several key chart patterns have been identified. The bear flag breakdown began on April 7, with consolidation within a tight range before breaking down on increasing volume, confirming a bearish continuation pattern. The price has consistently formed lower highs—$1.91, $1.89, and now near $1.75—indicating persistent downward pressure. A temporary contraction in the Bollinger Bands was followed by a sharp expansion to the downside, which is typically a volatility expansion signal in the trend’s direction. A possible double bottom is emerging around $1.73, a key support level. If this level holds and MACD begins to show bullish divergence, a short-term rebound may take place.

Indicators in focus include the Bollinger Bands, which show that the price is currently trading near the lower band, suggesting oversold conditions. The SMA20 continues to act as resistance, and a break above it could signal the start of a reversal. The MACD is still bearish on the 1H chart, but shorter timeframes (15min, 30min) may soon show divergence.

Major resistance levels include $2.039, $1.974, and $1.852. Major support levels include $1.731, $1.60, and $1.50. A rebound could initiate if the $1.73 support holds, combined with bullish MACD divergence on 15–30min charts, a candle close above SMA20 on 30min/1H timeframe, volume increase on green candles near $1.73, and a short-term target on the rebound of $1.85–$1.90. Invalidation would occur with a close below $1.73 with strong momentum, which may lead to $1.60 or lower.

XRP is currently in a bearish trend, but short-term indicators suggest a potential bounce if key support holds. Traders should watch the lower timeframes closely for confirmation signals while maintaining caution until the $1.85 resistance is reclaimed. This content is meant to inform and should not be considered financial advice. The views expressed may include the author’s personal opinions and do not represent any official 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.