XRP news today: XRP Drops 7% Amid Bearish Indicators, Trading Volume Surges 52%

XRP, the cryptocurrency associated with Ripple, has been under significant pressure, experiencing a nearly 7% decline over the past week. Despite this drop, its 24-hour trading volume surged by nearly 52%, reaching $2.3 billion, indicating heightened activity around the altcoin.

Multiple technical indicators suggest a bearish outlook for XRP. The Relative Strength Index (RSI) has dropped sharply to 36.97, down from 49.68 the previous day. This decline indicates a clear loss of momentum, with the RSI approaching oversold territory. Readings above 70 typically suggest an asset is overbought and may face a pullback, while readings below 30 indicate it may be oversold and primed for a rebound. With the RSI at 36.97, it is edging closer to the oversold threshold but hasn’t reached it yet. This level signals weakening buying pressure and could mean further downside in the short term if selling continues. However, if the RSI drops below 30 and stabilizes, it may trigger buying interest from traders anticipating a rebound. For now, XRP is in a caution zone—neither strongly oversold nor neutral—suggesting that price action in the next few days will be crucial in determining its short-term direction.

The Ichimoku Cloud chart for XRP reveals a decisively bearish structure across all key components. The price is positioned below the Tenkan-sen (blue line) and the Kijun-sen (red line), indicating that short-term and medium-term momentum are aligned to the downside. This configuration typically suggests ongoing selling pressure with no clear signs of reversal in the immediate term. Furthermore, the Chikou Span (green lagging line) is trailing well below the current price and the cloud, reinforcing a strong bearish sentiment from a momentum standpoint. This alignment of elements indicates that XRP remains under downward pressure, with buyers unable to regain control of the trend. The Kumo (cloud), representing future support and resistance, has turned red and is projected downward—another bearish signal. The price being well below the cloud confirms that XRP is in a fully bearish phase under Ichimoku analysis. Additionally, the gap between the Senkou Span A and B lines (the edges of the cloud) is widening slightly, which suggests that bearish momentum may still be strengthening rather than fading. To shift the outlook, XRP first must break above the Kijun-sen and eventually push into the cloud, neutralizing bearish momentum. Until then, the technical outlook remains weak, and traders may remain cautious unless a clear bullish reversal pattern emerges.

XRP’s exponential moving averages (EMAs) show signs of weakness, with a potential death cross formation on the horizon. A death cross occurs when a short-term EMA crosses below a long-term EMA, signaling a possible shift into a sustained downtrend. If this bearish crossover confirms, XRP price could move down to test the support level at $2.11. A failure to hold that level may accelerate the decline, opening the door for further losses toward $2.03. However, if XRP manages to regain strength and reverse current momentum, it could target resistance at $2.18. A breakout above that level would be a short-term bullish signal and could push the price toward $2.24. Continued buying pressure beyond that could set the stage for a move to $2.30 and possibly $2.36, especially if broader market sentiment improves.

In summary, XRP is facing significant bearish indicators, including a weakening RSI, a fully bearish Ichimoku Cloud setup, and a looming death cross in the EMA lines. With sentiment fragile and key levels in play, XRP’s next move will likely hinge on whether buyers step in or momentum continues to erode. The cryptocurrency market is known for its volatility, and while these indicators suggest a bearish outlook, sudden reversals are always possible. Traders and investors should closely monitor these technical levels and be prepared for potential shifts in market sentiment.