• XRP has been trading at $2.20 over the past 24 hours.  
  • The MACD indicator shows a strong bearish crossover.

As the day opened, the crypto market cap exhibited an uptick by 1.20%, reaching $3.31 trillion. The fear and greed index value is holding at around 58, reflecting the neutral sentiment within the market. The largest asset, Bitcoin, is attempting to recover its losses, while Ripple’s XRP dropped over 1.60% in the last 24 hours. 

XRP price has confronted a series of price volatility with a potential red and green candle formation. In the early hours, the asset traded at around a low of $2.14 under bearish pressure. Later, the bulls took control of the asset and pushed it to a high of $2.22. 

At the time of writing, XRP traded within the $2.20 range, with its market cap staying at $129.53 billion. Also, the daily trading volume has increased by over 19.76%, reaching $2.23 billion. Notably, as per Coinglass data , the market has witnessed a $3.23 million liquidation of XRP.  

The altcoin has lost over 4.40% in the last seven days. XRP opened the week trading at the $2.34 level, and as days progressed, it retraced to its weekly low at the $2.09 mark.

Will XRP Bulls Return to End the Bearish Streak?

XRP’s technical indicators report a negative sentiment, with the Moving Average Convergence Divergence (MACD) line and the signal line crossing below the zero line. This indicates a strong bearish crossover, and the asset may enter a downtrend or continue weakening. Besides, the Chaikin Money Flow (CMF) indicator at 0.04 suggests a slight bullish momentum. The money is flowing into the asset, and buying pressure is present in the market. 

Bear Territory Ahead? XRP Holds Its Breath at Key Support image 0

The four-hour timeframe of the asset could find nearby support at $2.16. If the bears strengthen at this price level, it might slide to the $2.12 range or even lower. This would confirm a deeper bearish trend, triggering the formation of a death cross. However, breaking past the $2.21 range might open the path for further gains. A move of XRP beyond $2.25 could likely invite the golden cross to emerge. It may push the asset for further upside correction, eyeing new highs. 

In addition, the trading chart reveals the Bull Bear Power (BBP) value of 0.0355, which implies a slight bullish advantage in the market. Moreover, XRP’s daily relative strength index (RSI) is stationed at 53.30, signalling neutral to slightly bullish momentum; there is room for further upward movement.