XRP News Today: XRP Drops Below $2.20 Amid Bearish Trend

Generated by AI AgentCoin World
Sunday, Jun 1, 2025 11:06 pm ET1min read
XRP
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XRP price has recently experienced a decline, falling below the $2.220 zone. The price is currently trading below $2.20 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.2180 on the hourly chart of the XRP/USD pair. This trend line is near the 50% Fib retracement level of the downward wave from the $2.3540 swing high to the $2.2081 low.

The price of XRP failed to clear the $0.3250 resistance and started a fresh decline, similar to Bitcoin and Ethereum. There was a move below the $0.2800 and $0.2620 support levels. The price even dipped below the $0.20 support level, forming a low at $0.2081. The price is now consolidating losses and has made a minor move above the $0.2120 level. It has also cleared the 23.6% Fib retracement level of the downward wave from the $2.3540 swing high to the $2.2081 low.

On the upside, the price might face resistance near the $2.20 level. The first major resistance is near the $2.220 level. The next resistance is $2.250. A clear move above the $2.250 resistance might send the price toward the $2.280 resistance. Any more gains might send the price toward the $2.30 resistance or even $2.3250 in the near term. The next major hurdle for the bulls might be $2.40.

If XRP fails to clear the $2.220 resistance zone, it could start another decline. Initial support on the downside is near the $2.1250 level. The next major support is near the $2.080 level. If there is a downside break and a close below the $2.080 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 zone.

Technical indicators show that the MACD for XRP/USD is now gaining pace in the bearish zone. The RSI for XRP/USD is now below the 50 level. Major support levels are at $2.120 and $2.080, while major resistance levels are at $2.20 and $2.220.

According to the analyst's forecast, if the price of XRP fails to clear the $2.220 resistance zone, it could start another decline. Initial support on the downside is near the $2.1250 level. The next major support is near the $2.080 level. If there is a downside break and a close below the $2.080 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 zone.