The cryptocurrency XRP continues its downward trend, showing bearish behavior in the market. Since reaching a peak of $2.65 in May, XRP has lost over 20% of its value.
Current XRP Metrics
Today, June 21, XRP's price has fallen by 1.42%, reaching $2.13. This represents a deepening bearish phase that has developed over the last month, following a consistent downtrend.
Key Support and Resistance Levels
XRP is holding just above a critical support zone between $1.99 and $2.09. This range has supported prices since the decline began in January from the $3.40 peak. A breakdown below this zone may open the path to a multi-month low at $1.61. Resistance remains at the 200-day Simple Moving Average of $2.37.
Market Sentiments and Trading Volumes
Despite bearish behavior, the long/short ratio has surged to a monthly high of 1.035, indicating an increasing number of traders anticipating a bounce. Additionally, derivatives volume has surged by 44% over the past 24 hours, reflecting growing interest from investors.
Current market conditions suggest continued bearish sentiments regarding XRP. The support levels are under threat, and traders should closely monitor changes in these key zones.
