XRP Faces Key Support Test as Bearish Pressure Mounts

XRP has slipped below its ascending moving average, dropping to $2.24, signaling growing bearish momentum. The cryptocurrency now faces a critical downtrend, with a risk of further losses unless strong support holds. Historically, the 100 EMA has acted more as a transition point than solid support, making a swift recovery uncertain. However, if XRP stabilizes at its current level, a rebound toward $2.50-$2.55 remains possible.

To regain bullish momentum, XRP must reclaim $2.72, a previous resistance level. Failing to break above this mark could keep the asset in consolidation, while a successful breakout may fuel a rally toward $3.00. Despite prevailing bearish sentiment, oversold conditions on the RSI suggest the possibility of a short-term bounce, especially if buying pressure increases.

If sellers maintain control, XRP could decline further to $1.79, aligning with the 200 EMA, which would delay any potential recovery. The key to reversing the downward trend lies in the $2.28-$2.30 support zone. If buyers defend this level, a rapid price rebound could surprise the market. Traders should closely monitor XRP's price action as market sentiment will play a crucial role in determining its next move.