$XRP is currently trading around $2.14 USD, a key psychological and technical area, following a period of decline after the recent ETF launches. The price action suggests a battle between persistent selling pressure and potential buyer interest at these lower levels.
Key Technical Insights:
Price Movement: $XRP has faced a significant drop from its November peak and has broken below key support levels around $2.20-$2.30.
Support & Resistance: The immediate critical support zone is around $2.10 to $2.00. A breakdown below this could trigger further downside towards $1.25. The immediate resistance is near $2.25, with stronger resistance at the $2.50-$2.63 zone.
Indicators: The Relative Strength Index (RSI) is in neutral territory, around 41-44, not yet indicating deeply oversold conditions for a guaranteed bounce. The #MACD indicator shows a persistent sell signal and negative momentum, confirming the current bearish bias.
Market Sentiment: A large percentage of holders (approx. 35%) are currently "underwater" (holding at a loss), which can sometimes signal a market bottom, but also increases panic-selling risk.
What to Watch:
The market appears to be in a "wait-and-see" mode. A decisive break and hold above the $2.25 resistance with strong volume would be an early bullish signal. Conversely, a drop below the $2.00 support would likely confirm further downward movement.
