The cryptocurrency arena continues to be fraught with volatility, and XRP seems to be displaying signs of frailty, despite its recent triumph over a descending trendline that had stymied every rally since February. Following a regression beneath pivotal resistance markers, experts are cautioning that XRP might be facing a more drastic downturn in the imminent future.
At the time of reporting, XRP is grappling to maintain support near $2.10 after touching a low of $2.03. Analyst CasiTrades has expressed concern that, although XRP momentarily regained its breakout stage, the move could be a deceptive breakout. She further indicated that if open interest begins to surge without a significant price movement, especially if it surpasses 0.02% or more, this could denote a high likelihood of a liquidity sweep downwards.
“If we can’t sustain $2.25, it brings $2.01, $1.90, and even $1.55 into the equation,” she elaborated. A surrender to these lower tiers, while distressing in the near term, could be the catalyst XRP requires to finally break loose from its multi-year range. According to CasiTrades, such a shakeout might set the stage for an impactful Wave 3 breakout in the upcoming weeks.
Bearish sentiments are echoed by technical indicators for the short term. RSI and Stochastic indicators on the daily and 4-hour charts are pointing to oversold conditions, suggesting ongoing selling pressure before a potential bounce-back. The market is closely monitoring the $1.95–$1.88 range for signs of stability.
Adding to the unpredictability, XRP’s price movements remain inextricably linked to Bitcoin and Ethereum. With these major cryptocurrencies trading within narrow boundaries and indicating potential retracements, it’s likely that altcoins like XRP will reflect this pattern.
Despite the high short-term risks, some analysts maintain optimism for XRP’s mid-term future. If the market can shrug off the current bearish mood, XRP could potentially rebound to $2.25–$2.35 initially, with loftier targets of $3 by the end of July if bullish momentum accumulates.
