XRP News Today: XRP Price Drops 5% Amid Bearish Momentum

The XRP price is currently hovering around $2.29, having tested intraday lows of $2.28. This cautious tone among traders reflects a struggle by bulls to regain lost momentum. While the weekly structure remains intact, lower timeframe indicators suggest increasing downside pressure due to weakening market participation and repeated rejection near $2.32.

On the 4-hour chart, the XRP price action shows repeated rejections from a descending trendline anchored around $2.32, forming a narrowing triangle structure. Short-term EMAs are converging between $2.28 and $2.31, offering dynamic resistance, while the Bollinger Bands suggest tightening volatility, which is typically a precursor to an impending move. Despite earlier price spikes in May, XRP has struggled to maintain higher highs, with the failure to reclaim the $2.35 zone signaling fading bullish interest. The 200 EMA on the 4-hour chart is providing soft support near $2.28, which has so far held during intraday dips.

On the macro front, the weekly chart reveals XRP stabilizing above the 0.382 Fibonacci level at $2.15. However, multiple failed attempts to break the $2.65 ceiling suggest a lack of conviction for a breakout in the current cycle. Indicators on the 30-minute chart flash mixed signals as the short-term trend weakens. The RSI has slipped below the neutral 50 mark, now resting near 38.09, indicating bearish momentum is gaining traction. The MACD remains below the signal line, with histogram bars continuing to print in negative territory, confirming selling pressure. The Ichimoku Cloud analysis also leans bearish, with XRP slipping below the cloud and the Tenkan-sen and Kijun-sen lines flattening out, signaling a potential consolidation phase. The Senkou Span A is now curling downward, reinforcing near-term resistance. The Chande Momentum Oscillator is currently at -24.29, showing deepening negative pressure. However, the Stoch RSI is rising from oversold levels, suggesting a short-term bounce may occur if support at $2.27 continues to hold.

The recent decline in XRP price is driven by a confluence of technical exhaustion and declining intraday momentum. After last week’s brief move to $2.43, price action has been unable to sustain a breakout, reflecting profit-taking and a cautious stance by traders amid broader market uncertainty. Additionally, rejection from multiple EMA clusters around $2.31–$2.32 has reinforced resistance, giving bears the upper hand. While macro indicators like weekly Fibonacci levels remain bullish over the long term, the immediate structure reflects fragility, with buyers needing to reclaim $2.32 to reignite upward momentum.

Heading into May 29, the outlook for XRP price is neutral to slightly bearish. Unless bulls reclaim the $2.32-$2.35 zone, the risk of breakdown below $2.27 persists. That could expose XRP to the next demand levels near $2.15 and even $2.00 if broader market sentiment worsens. Conversely, a breakout above $2.35 could clear the path toward $2.43 and $2.50, but that scenario would require stronger volume support and a shift in momentum indicators across 4-hour timeframes. Although the broader trend remains constructive as long as XRP stays above $2.15, current momentum suggests a pause or retracement is more likely than a rally unless bulls make a decisive reclaim of the $2.32 resistance. As traders continue monitoring support levels, XRP’s next move will likely set the tone for its short-term trajectory into June.