XRP is under mounting pressure as bearish signals intensify on the weekly chart. The asset is trading around $2.34, slipping over 3 percent this week amid growing concerns about a potential breakdown.
Momentum has faded steadily in recent weeks, with price movement narrowing significantly. Short-term buyers are finding it hard to rely on the midline of the Bollinger Bands for support in XRP. Attempts to break above the $2.42 resistance level have failed repeatedly, indicating weakness in buyer conviction.
Also, both the upper and lower Bollinger Bands are starting to coincide. Usually, the compression is followed by either a major rally or a sharp fall, depending on whether the trend is upward or downward. If we look at recent results, the bias is pointing downwards.
Since surging to its highest point in February, XRP has not reached any new highs and has instead made lower peaks several times. Because the pattern continues and bulls still do not have strong levels above the 20-week moving average, they struggle to shape the current trend.
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$2.20 Support Zone Emerges as Decisive Battleground for Price Direction
The $2.20 level has now emerged as the critical line that bulls struggle to defend. A break below this support could confirm a trend reversal and expose XRP to further downside. The lower end of the Bollinger Bands, currently positioned at $1.87, may become the next target.
If this level is breached, it would represent a potential 22 percent drop from current prices. Should this occur, it could take XRP back to levels it saw in the early stages of its late 2024 surge. The number of bears increases as the market stays quiet and momentum signals decrease.
Source: Tradingview
According to TradingView data, the asset’s repeated rejection at the $2.42 mark and the continued tightening of volatility indicators have heightened concerns. If the recovery exceeds $2.60, the market will likely stay bearish in the next few days.
For now, observers are watching to see if XRP can hold around $2.20. A decline below this level may signify that the breakdown finally occurred and changed investors’ opinions in favor of bears.
There are red flags on the technical side, so $2.20 might mark the final gasp for the bulls. If the $60,000 mark is broken to the downside, it may set off a period of increased selling in the following days.
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