XRP prices continue to face pressure from a short-term downtrend. In this article, we will examine the current state of XRP, conduct technical analysis, and present price prediction scenarios.
Current State of XRP Price
Currently, the price of XRP is around $2.09. In mid-June, the token showed a decline, reaching a low of $1.96, but on June 23, there was a small bounce, closing around $2.08. It's important to note that to shift the short-term trend upwards, XRP needs to break above $2.13.
Technical Analysis
The current XRP chart indicates a technically bearish trend. Sellers continue to defend the $2.13 resistance level, and the previous peak at $2.20 remains intact. Many analysts view the current bounce from $1.96 as a reaction from buyers; however, this trend may prove to be short-lived.
Price Prediction Scenarios
Several scenarios exist for predicting XRP prices. In a bullish scenario, a break above $2.15 with strong volume might lead to a move towards $2.30. The neutral scenario involves the price staying in the range of $1.88 to $2.10, whereas the bearish scenario would entail a drop below $1.88, potentially accelerating selling.
XRP prices show signs of short-term relief; however, they remain within a bearish trend. The resistance level of $2.13 will be key for future movements. Investors and traders are looking for either a breakout above $2.20 or a breakdown below $1.88 to determine the next significant steps in the market.
