XRP Nears $2 Support as Bears Strengthen Grip

XRP is under heavy selling pressure after dropping nearly 6% in a sharp daily move, falling below key support levels and currently trading around $2.20. This decline brings the crucial $2.00 psychological level into focus, a zone that could determine the next direction for XRP. Repeated rejection from resistance between $2.37 and $2.42 has intensified the bearish sentiment.

More concerning is XRP's fall below the 100-day Exponential Moving Average (EMA), a commonly watched technical indicator. This breakdown signals potential for a prolonged downtrend, especially as selling pressure builds across the broader crypto market. XRP has been forming lower highs since its December peak and remains locked within a descending channel, reflecting persistent bearish control.

Trading volume has notably increased on red candles, suggesting heightened activity from sellers as buying interest fades. If XRP fails to hold above $2.00, the next major support lies near $1.93, which aligns with the 200-day EMA. A breakdown below this zone could open the door to $1.75, a key level from late 2024’s consolidation.

The Relative Strength Index (RSI) currently sits at 42, pointing to growing bearish momentum but also hinting at potential volatility. A short-term rebound remains possible if XRP can defend the $2.00 level. However, to shift momentum back in favor of bulls, XRP must reclaim the 100 EMA quickly.

As XRP struggles under technical and psychological pressure, traders are closely watching upcoming moves. Holding $2.00 may spark a relief rally, but failure could confirm a deeper correction. Investors should remain cautious as XRP tests these critical levels.