XRP Struggles Near $2 Support as Bearish Trend Persists

XRP is currently trading at $2.19 after a modest recovery from yesterday’s dip, but the asset remains under pressure as it hovers dangerously close to the critical $2.00 support level. Earlier this week, XRP briefly touched $2, raising concerns among investors. While today’s rebound offers slight relief, the broader trend remains bearish.

The daily chart shows XRP continuing its descent within a well-defined descending channel, marked by consistent lower highs and lower lows. A recent rejection near the $2.35–$2.41 resistance zone—where the 26 and 50 EMAs converge—has dashed short-term bullish hopes. Unless XRP breaks above this range, the bearish structure will likely persist.

Adding to the concern is the proximity to the 200 EMA, now at $1.94, which has served as a key support level in recent months. A decisive drop below $2 could trigger panic selling and potentially push the price toward the $1.75 support region, erasing gains made in Q1 2025.

However, all hope isn’t lost. If XRP can hold above $2.00 and attract strong buying volume, a short-term reversal is possible. The Relative Strength Index (RSI) stands at 43—near oversold territory—suggesting a potential rebound if volume picks up.

The next few sessions are critical. Maintaining the $2.20 level as psychological support could prevent further losses. A strong bounce with sustained buying could reopen a path toward the $2.30 resistance. Conversely, failure to hold the line may lead to a deeper correction and increased bearish momentum.

With bearish sentiment still dominant, XRP’s future hinges on holding key support levels and generating renewed investor interest to reverse its current trajectory.