XRP has fallen below the $2 threshold and is trading at $1.93 due to the fluctuations in the cryptocurrency market in recent days. While selling pressure becomes evident in the short term, technical indicators produce signals that may indicate a change in direction in the medium term. Market actors are carefully watching why the price weakened and what scenarios might come to the fore next.
What Does the Technical Outlook Say on XRP?
After a short-term attempt above $2, XRP encountered strong sales and gave back its gains. The $2 level, which previously served as support, has now become a resistance zone limiting upward movements. The price stabilizing around $1.93 makes the $1.90 level a prominent defensive point in the short term. It is evaluated that the downward movement may accelerate if this region is lost.
From a technical perspective, the MACD indicator on the weekly chart is closely watched. The weakening of the histogram bars and the two lines approaching each other indicate that a momentum change may be approaching in the market. ChartNerd, known as technical analyst, states that a possible positive intersection in the weekly MACD could pave the way for XRP to break the descending resistance line. Although it is known that similar intersections have triggered strong increases in the past, the price still remains under a long-maintained downward trend, causing caution.
In the upward scenario, permanent pricing above $2.05 is seen as a sign of technical recovery. If such a breakout is confirmed, the $2.50 region may come to the fore again. Otherwise, the current structure shows that sellers remain in control.
Price Under Low Buyer and Macro Pressure
XRP reached $2.41 at the beginning of the month, reaching its peak in the last two months and recording an increase of approximately 30 percent since the beginning of the year. However, the fact that this move was not permanent revealed the weakness on the buyer side. Market analyst Dom states that the rise in question occurred in low liquidity conditions rather than strong demand and that there was no sustainable buying appetite.
While there has been a retreat of approximately 18 percent since the peak, the $1.80 region stands out as a critical support that is being tested for the third time. According to analysts, if the price drops below this level, it may pave the way for deeper losses. The opinion that the price should settle above $ 2.05 again in order to stabilize has gained weight.
The pressure on the cryptocurrency market is not limited to technical factors alone. Increasing geopolitical tension and trade sanctions between the USA and the European Union weaken the interest in risky assets. The USA’s response with tariffs following the military activities of European countries around Greenland has strengthened the cautious stance of investors. This emerging picture increased the selling pressure in many cryptocurrencies, including XRP.
