XRP News Today: XRP Falls 20% From July Peak as Technical Indicators Signal Bearish Momentum

XRP is experiencing a significant pullback following a sharp rise to highs above $3.55 in July. The digital asset has lost nearly 20% from its peak, currently trading at $2.81 and testing support in the $2.70–$2.87 range. The correction follows a 126.43% gain from around $1.82, and the current bearish momentum is reinforced by key technical indicators [1].

Technical indicators suggest a weakening bullish trend. The RSI has fallen to 43.35 from a previous peak above 70, signaling neutral to mildly bearish conditions. A bearish crossover between the RSI and its moving average, now at 59.83, further supports this view. The MACD also reflects declining momentum, with the MACD line at 0.0581 and the signal line at 0.1460. The negative histogram reading of −0.0879 indicates growing bearish pressure, suggesting XRP could remain under pressure unless new bullish catalysts emerge [1].

According to analyst Michael van de Poppe, the recent high was “a tricky one,” and the loss of key price levels has led to the current correction. He noted that if the dip continues, the $2.40–$2.60 zone may become a key area for fresh buyer interest. XRP remains above the $2.60–$2.80 support region, with $2.80 considered critical in prior analysis to avoid further downside [1].

The price is now approaching the lower end of the $2.70–$2.87 support range. Analysts have highlighted this area as important to defend in order to avoid a move toward the $2.40–$2.60 range. A failure to hold this zone could lead to a deeper correction toward the $2.00–$2.20 breakout zone, which has historically been a key support level. Further below, the $1.82–$1.57 range remains a significant demand zone, having acted as a strong support multiple times in the past [1].

Despite the bearish near-term outlook, the broader trend remains bullish, provided XRP holds above $2.60. A break below that level could lead to a test of the $2.00 zone, which has been previously validated. Current trading volume stands at 37.4 million, slightly lower than July peaks, which may indicate temporary consolidation. However, without a resurgence in buyer strength, XRP could continue to drift lower before testing major demand zones again [1].

The overall market structure shows signs of cooling, but a stabilization above $2.70 could provide a base for a potential recovery. Investors are closely watching whether the $2.40–$2.60 zone becomes a turning point or if the downward pressure continues toward key historical supports.

Source:

[1] XRP Correction Deepens as Analyst Eyes $2.40–$2.60 Zone for Recovery (https://cryptofrontnews.com/xrp-correction-deepens-as-analyst-eyes-2-40-2-60-zone-for-recovery/)