Quick overview
- XRP has fallen below $1.90 and is nearing a critical point just under a descending resistance line.
- The long/short ratio for XRP is around 1, indicating a prevailing bearish sentiment among traders.
- XRP is currently trading at $2.14, just above a crucial support level of $2, with potential for further declines if this level is breached.
- A descending triangle pattern is forming, suggesting possible further declines if market conditions remain weak.
Live XRP/USD Chart
XRP/USD
XRP has broken below $1.90 and is approaching a critical point on the charts, just below a significant descending resistance line. According to Coinglass data, the asset is tightly compressed between this resistance near $2.22 and the 200-day Exponential Moving Average at roughly $1.99.
The long/short ratio for Ripple XRP is near 1, indicating that more traders are betting on a decline than a rally. This ratio has remained below 1, indicating that bearish sentiment has prevailed for nearly two weeks. The volume of derivatives is relatively high despite a slight decline in open interest, indicating that traders are still active, albeit primarily short, in anticipation of a decline. XRP is trading at $2.14 on the technical front, just above $2, a critical support level.
If that threshold is breached, there may be more drastic short-term drops. Although neutral at 47, the relative strength index is steadily dropping. It is not yet oversold, so a further drop is still possible. Trading activity has slowed considerably, with volume and volatility falling.
Historical trends suggest a high likelihood of a significant breakout after the consolidation phase concludes, despite the muted price action. If the resistance is not overcome, focus may shift to the lower support levels. A decline toward $1.85 or even $1.70 could result from a breakdown below the $2.00–$1.99 range. Additionally, a descending triangle pattern is emerging, which traditionally suggests further declines if supported by persistently low volume or market weakness.
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.
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