If we don't just focus on short-term fluctuations but instead broaden our perspective, the current trend of XRP is not as pessimistic as it seems. Although the price appears to be lingering at a low level, it has been more like a slow accumulation of strength in recent weeks, rather than panic selling by everyone.

Since the drop in October, XRP has been operating within a downward price channel, with the current price concentrated around $2.00–$2.05, which is the lower edge of this channel. This position has been repeatedly tested, but each time it has not been effectively broken down, indicating strong support here.

More importantly, selling pressure is clearly weakening. Each time the price falls back into this range, it is caught by the market, and there hasn't been a continuous dumping of shares.

Technically, XRP is still below the 50-day and 100-day moving averages; the trend cannot be said to have reversed, but one key change is that the distance between the price and the moving averages is no longer widening. This usually indicates that the downward momentum is weakening, and one can expect more significant volatility rather than a continued one-sided decline.

Trading volume also reveals signals: the amount sold during declines is decreasing, while increased volume is more evident in the bullish candlesticks. This suggests that those who were eager to sell have mostly left, and the remaining funds are more inclined to gradually buy in at lower levels, which is typical "accumulation."

The RSI indicator also confirms this. It has been hovering around 40 for a long time, without dropping into the extreme oversold area, indicating that although the market is weak, it has not spiraled out of control. Overall, XRP now appears to be building a foundation at the bottom, and once sentiment or funds warm up, a change could occur at any time.