XRP Eyes Breakout as Bears Lose Grip Amid Declining Volume

XRP remains trapped in a persistent downward channel, with both its upper and lower boundaries steadily trending lower. The asset is currently hovering near the lower boundary at $2.00, a critical support level that has historically prevented sharper declines. A decisive breakout above the upper trendline, currently near $2.58, would signal the first major step toward reversing the bearish trend. However, before confirming bullish momentum, XRP needs to establish strength above $2.30, a key resistance level.

If XRP fails to hold support at $2.00, further losses could accelerate, erasing optimism for a quick recovery. Additionally, its downward-trending moving averages reinforce a bearish outlook. Despite the prolonged decline, selling pressure appears to be gradually weakening, hinting at a potential shift in market sentiment.

A notable factor supporting a potential breakout is the declining volume, suggesting that bears may be losing control. If buying interest strengthens and XRP pushes past $2.58, the narrative could shift in favor of bulls, opening the door for a retest of the $3.00 level. Investors are closely watching for confirmation of a trend reversal, with XRP’s next moves being crucial in determining its short-term trajectory.