XRP price is under pressure, reflecting its current position relative to key support and resistance levels.
Current XRP Price
The XRP price is currently stabilized at $2.10 after finding support at $2.05 during the recent market downturn. Earlier, positive news about the Ripple vs SEC case temporarily lifted the price above $2.50, but it soon declined again due to general market weakness.
Technical Indicators
Key technical indicators suggest possible continuation of the downward trend for XRP. The RSI is at 39.124, indicating more sellers than buyers, but not yet oversold. The MACD (12,26) is at -0.079, reflecting bearish momentum, while the CCI is -128.5523, signaling oversold conditions and a potential short-term price bounce. The Highs/Lows indicator is -0.1573, confirming negative sentiment, while the Ultimate Oscillator at 40.4 indicates moderate selling pressure.
Price Forecast
Based on current indicators, the XRP price is likely to continue falling. The pressure from negative MACD and ROC values may lead to a retest of the $2.05 support level. However, the oversold CCI might hint at a forthcoming bounce, where the price could rise to $2.15-$2.20 if buyers show interest. Returning to the $2.50 level soon seems unlikely without significant positive news.
Current technical indicators point to bearish market sentiment for XRP, yet short-term price recoveries are possible due to oversold conditions on some indicators.
