Fundamentals:
XRP is under pressure as broader market sentiment turns negative. The cryptocurrency market continues to follow the Nasdaq, which is showing signs of weakness. With the index currently struggling, risk assets—including XRP—are seeing downside pressure. A stronger U.S. dollar is adding to the bearish outlook, weighing on both crypto and equities. Recent regulatory clarity on XRP failed to spark sustained gains, suggesting the news was already priced in.
Technicals:
Technical levels show that XRP is currently testing a key monthly support zone. If this level fails to hold, the next downside target could be around 1.5700. Bearish momentum is increasing, with sellers defending resistance zones aggressively. Volume patterns suggest that buyers are hesitant, leaving the market vulnerable to further declines. The RSI indicator is heading lower from previously overbought levels, indicating a potentially falling trend for now, reflecting growing bearish momentum. A break below the monthly support could accelerate selling pressure.
Traders should watch for confirmation with increased volume on a breakdown. If support holds, a short-term bounce could be possible, but broader sentiment remains weak. Macro factors such as interest rates and economic data will influence risk appetite. Bitcoin’s price action will also play a role in determining XRP’s next move. A reclaim of key resistance levels could shift sentiment, but for now, bears are in control. Traders should manage risk carefully, considering potential volatility. A retest of lower support zones could provide better long opportunities.
For now, caution is warranted as XRP remains under downside pressure.
XRP is under pressure as broader market sentiment turns negative. The cryptocurrency market continues to follow the Nasdaq, which is showing signs of weakness. With the index currently struggling, risk assets—including XRP—are seeing downside pressure. A stronger U.S. dollar is adding to the bearish outlook, weighing on both crypto and equities. Recent regulatory clarity on XRP failed to spark sustained gains, suggesting the news was already priced in.
Technicals:
Technical levels show that XRP is currently testing a key monthly support zone. If this level fails to hold, the next downside target could be around 1.5700. Bearish momentum is increasing, with sellers defending resistance zones aggressively. Volume patterns suggest that buyers are hesitant, leaving the market vulnerable to further declines. The RSI indicator is heading lower from previously overbought levels, indicating a potentially falling trend for now, reflecting growing bearish momentum. A break below the monthly support could accelerate selling pressure.
Traders should watch for confirmation with increased volume on a breakdown. If support holds, a short-term bounce could be possible, but broader sentiment remains weak. Macro factors such as interest rates and economic data will influence risk appetite. Bitcoin’s price action will also play a role in determining XRP’s next move. A reclaim of key resistance levels could shift sentiment, but for now, bears are in control. Traders should manage risk carefully, considering potential volatility. A retest of lower support zones could provide better long opportunities.
For now, caution is warranted as XRP remains under downside pressure.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.