XRP Faces Critical Support Test At $2.03 Amid Bearish Patterns
1min read XRP is currently in a critical consolidation phase following a significant rally, with the weekly chart showing potential reversal or continuation patterns. The price action has formed a rising wedge pattern, which is typically a bearish reversal signal. This pattern suggests that the momentum is slowing down and that there could be a downside move unless buyers aggressively defend key support levels.
Additionally, XRP faced rejection near $2.60 twice, indicating a possible double top. If this pattern is confirmed with a close below the neckline around $2.03, it could trigger a deeper retracement toward the $1.69–$1.40 zone. However, despite the current weakness, the sharp rally followed by tight consolidation resembles a bull flag, which could indicate continuation to the upside if buyers reclaim $2.60 convincingly.
Key indicators such as the Bollinger Bands show that XRP is currently trading just above the midline, around $2.03. Volatility has slightly contracted, indicating a pause in price expansion. A breakout above the upper band near $2.59 or a breakdown below $2.03 will determine the next major move. The support zone at the lower Bollinger Band, around $1.07, remains the critical defense area.
The MACD line is above the signal line, but histogram bars are shrinking, indicating weakening bullish momentum. A bearish crossover could form in the coming weeks if momentum does not pick up, supporting short-term correction fears. XRP is comfortably trading above the 20-week EMA, currently near $2.03, which is acting as dynamic support. The slope remains upward, a sign of broader trend strength, but recent candle closes below the $2.09 zone suggest testing this level.
The RSI remains elevated but has slipped from extreme overbought territory. The indicator suggests that while bullish strength is still present, the asset is cooling off and may correct further before any renewed rally. Key support levels are $2.03, followed by $1.69 and $1.07. Immediate resistance is at $2.59, which must be broken to resume the uptrend. Major resistance is at the $3.00 psychological level, followed by the local high around $3.30.
The weekly chart shows XRP at a decisive level. If it holds the $2.03 support and bullish volume returns, a breakout above $2.59 could lead to a retest of $3.00–$3.30. However, failure to hold $2.03 could see the price dip toward the $1.70–$1.40 range for a healthier retracement before the next rally phase. Overall, XRP’s trend remains bullish in the macro view, but short-term caution is advised due to consolidating indicators and evolving chart patterns.
