XRP has fallen about 7% on the weekly chart. How much lower could it go?
Ripple (XRP) Price Outlook and Analysis
Key support levels: $1.20, $1.00
Key resistance levels: $1.40, $1.60, $2.00
Sellers Reassert Control
After a period of indecision near the top of the pennant formation (marked in blue on the chart), sellers returned with strength and pushed the price down toward the $1.20 support zone. At the time of writing, buyers are attempting to trigger a short-term bounce, but that rebound may lack momentum.
This recent decline follows weakness in the broader market, with leading assets such as Bitcoin and Ethereum breaking important support levels. Those breaks have cascaded through the market and left XRP vulnerable to renewed selling pressure.
Rising Volume Confirms Downside Momentum
Volume patterns matter: rising volume during rallies is typically bullish, while rising volume during declines is a strong bearish signal. The uptick in selling volume suggests the current move has momentum and increases the probability of a test of $1.20, and possibly $1.00 if selling continues.
Looking at the 2-day timeframe, buyers have only regained control once in the past two weeks, highlighting sellers’ dominance. Given these dynamics, reversing this downtrend will require significant buying pressure.
Bearish MACD Cross Reinforces the Downtrend
Since May 19, the 2-day MACD has produced a bearish cross, and the price has continued to make lower lows. The MACD histogram is declining and accelerating, which supports the view that the downtrend is strengthening rather than easing.
Overall bias remains bearish, and a sustained relief rally seems unlikely until the downtrend shows clear signs of exhaustion. Traders and investors should consider waiting for a move down to the $1.20 or $1.00 support zones before evaluating long entries. On the upside, initial resistance sits around $1.40 and must be reclaimed to shift sentiment toward recovery.