XRP is currently priced at approximately $2.11, having bounced off a key support zone just above $2.08. Despite ongoing pressure, short-term indicators hint at potential base formation.
XRP Price Dynamics
Recent price movements of XRP have seen a sharp drop from the $2.30–$2.32 range to the $2.09–$2.11 zone. This decline coincided with a broader correction in the altcoin market.
Current Support Levels
On the 4-hour chart, the price broke below a rising trendline support and tested a key demand block between $2.06 and $2.10. This level also aligns with the long-term support trendline extending from the April low, which helped initiate the prior rally toward $2.50.
Short-Term Rebound Prospects
Despite the pullback, XRP has maintained above the weekly 0.382 Fibonacci retracement level at $2.11. A weekly close above this line would keep the broader uptrend technically intact.
The current situation regarding XRP's price indicates a possible rebound from key support levels as traders evaluate market oversold conditions.
