XRP Struggles at $2.37 Amid $150B Market Cap, Faces Key Support at $2.13
XRP’s price action remains under pressure as the token fluctuated between $2.13 and $2.95 on Feb. 2, 2025.
Currently trading at $2.37, XRP reflects heightened volatility, with bears maintaining control. Despite a $150 billion market cap and $12.19 billion in daily trading volume, selling pressure has capped any sustainable upward push.
Key Levels:
- Resistance: $2.72 remains a significant hurdle, with an additional barrier at $2.95.
- Support: $2.13 is critical support; a breakdown could accelerate losses toward $1.87 and $1.62.
Technical Indicators:
- RSI: Hovering around 38, indicating bearish momentum but approaching oversold territory.
- MACD: Bearish, with the signal line below zero, reinforcing downward pressure.
XRP Faces Extended Downtrend
Zooming out to the four-hour timeframe, XRP continues to trade below its 50-period EMA at $2.89, confirming bearish dominance. The descending triangle breakdown has intensified the downtrend, with a failed retest of the $2.72 resistance fueling further declines.
Technical Factors Reinforcing Bearish Momentum:
- Bearish Trendlines: A clear downtrend with lower highs and lower lows.
- Failed Rebound: XRP’s inability to hold above $2.45 signals weak buyer commitment.
- Thin Support Below $2.13: A breach could open the door toward $1.87 and $1.62.
For a bullish reversal, XRP must decisively close above $2.72, with confirmation coming from a break above $2.95.
Long-Term Outlook: Bearish Pressure Mounts
On the daily chart, XRP remains trapped in a broader downtrend. The 50-day EMA at $2.89 and horizontal resistance at $2.95 continue to cap upside moves.
Key Indicators:
- RSI (38): Approaching oversold levels, suggesting limited downside before a potential bounce.
- Stochastic (31): Reflecting weak bullish attempts amid broader bearish pressure.
- MACD (-0.08): Negative, confirming the continuation of the downtrend.
Unless XRP breaks above $2.72 and holds above $2.95, the risk of further declines remains high.
Verdict: Can XRP Reverse Course?
- Bull Case: A sustained breakout above $2.72 could trigger a reversal, targeting $2.95 and $3.21.
- Bear Case: A breakdown below $2.13 raises the risk of XRP sliding toward $1.87 or $1.62, with bearish momentum prevailing.
For now, XRP remains vulnerable, with market sentiment tilted bearish unless bulls reclaim key resistance levels.
ABOUT THE AUTHOR
See More
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals
Top Broker