Ripple
XRP Bulls on Edge—Could the Downtrend Continue?
XRP price started a fresh decline below the $2.650 resistance. The price is now consolidating losses and might face resistance near the $2.550 zone.
- XRP price started a fresh decline below the $2.650 zone.
- The price is now trading above $2.40 and the 100-hourly Simple Moving Average.
- There is a short-term rising channel forming with support at $2.40 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might continue to move down if it remains below the $2.550 resistance zone.
XRP Price Faces Resistance
XRP price started a fresh decline from the $3.00 resistance, like Bitcoin and Ethereum. The price dipped below the $2.80 and $2.60 levels.
The bears were able to push the price below the 50% Fib retracement level of the upward move from the $1.95 swing low to the $3.00 high. Finally, the bulls appeared near the $2.20 support zone. A base is forming and the price is now attempting to recover above $2.30.
The price is now trading above $2.40 and the 100-hourly Simple Moving Average. There is also a short-term rising channel forming with support at $2.40 on the hourly chart of the XRP/USD pair.
On the upside, the price might face resistance near the $2.550 level. The first major resistance is near the $2.650 level. The next resistance is $2.750. A clear move above the $2.750 resistance might send the price toward the $2.80 resistance.
Any more gains might send the price toward the $2.880 resistance or even $2.920 in the near term. The next major hurdle for the bulls might be $3.00.
Another Decline?
If XRP fails to clear the $2.550 resistance zone, it could start another decline. Initial support on the downside is near the $2.40 level. The next major support is near the $2.320 level.
If there is a downside break and a close below the $2.320 level, the price might continue to decline toward the $2.20 support and the 76.4% Fib retracement level of the upward move from the $1.95 swing low to the $3.00 high. The next major support sits near the $2.120 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $2.40 and $2.320.
Major Resistance Levels – $2.550 and $2.750.
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Ripple (XRP) came close to slipping below the critical $2 mark on Saturday, only to see a modest recovery as bullish traders reclaimed the $2.15 level. Regulatory uncertainty surrounding SEC Chair nominee Paul Atkins sparked withdrawal from XRP derivatives markets, signalling more downside risks ahead.
Why Is Ripple (XRP) Price Going Down Today?
Ripple’ (XRP) latest downturn has been attributed to mounting concerns of “conflict of interest” over the nomination of Paul Atkins as SEC Chair under the Trump administration.
While Atkins has long been regarded as a crypto-friendly figure, opposition from U.S. Congress has raised fears of potential regulatory hurdles for Trump’s crypto plans and ongoing altcoin ETF filing reviews.
Recently, Ripple secured a major legal victory in its protracted battle with the SEC, bringing long-awaited closure to the case. However, uncertainty surrounding Atkins’ confirmation has cast a shadow over XRP price momentum.
As seen in the chart above, Ripple price tumbled a low as $2.06 on Saturday, before rebound towards the $2.15 level at the time of publication.
Atkins’ critics within Congress have expressed concerns over potential conflicts of interest, signaling broader resistance to pro-crypto policies.
If his confirmation is blocked, it could indicate a more hostile stance toward upcoming legislative initiatives—such as the proposed Crypto Strategic Reserve, which requires congressional approval for federal cryptocurrency acquisitions.
According to Polymarkets data, investors are now pricing 35% chance that the US SEC could approve XRP spot ETFs before July 31. Notably that figure has now declined 7% since the scrutiny around Trump’s SEC chair nominee, Paul Atkins began.
More significantly, investors worry that a less crypto-friendly successor could delay or outright reject altcoin ETFs, dealing a major setback to institutional adoption.
This uncertainty has contributed to XRP’s recent sell-offs, as market participants brace for potential regulatory headwinds.
Traders Withdraw $220M as Market Sentiment Deteriorates
XRP’s bearish trend has not been confined to spot market losses alone. In the derivatives sector, traders are aggressively unwinding their positions, signaling a broader loss of confidence in XRP’s short-term recovery prospects.
According to CryptoQuant, XRP’s open interest—a key indicator of futures market activity—has fallen sharply from $1.6 billion on March 19 to $1.48 billion at press time, reflecting a $220 million decline in just 10 days.
This mass exodus suggests that traders are moving to reduce their exposure rather than betting on a swift rebound.
Extended periods of large-scale withdrawals from open interest typically indicate persistent bearish momentum, as market participants either lock in profits or cut their losses ahead of further declines.
Unless broader sentiment shifts in favour of crypto regulation, XRP may continue facing selling pressure in the near term.
XRP Price Forecast: Bearish Breakdown or Rebound to $2.40?
XRP price is struggling to regain bullish momentum after falling below key moving averages, signalling potential downside risks.
The XRPUSDT daily chart depicted below reveals XRP is currently trading at $2.17, facing resistance from the 50-day SMA at $2.41 and the 100-day SMA at $2.51, as sellers remain firmly in control.
The declining trading volume further reinforces bearish sentiment, indicating weak demand at current levels.
The Bearish Breakout Probability is supported by the BBP (Balanced Bollinger Percentage) indicator, which sits at -0.3190, a sign of persistent downward pressure.
If XRP fails to reclaim the $2.20 support, the price could slide toward $2.00, a psychologically significant level that could trigger panic selling. A breakdown below this mark could open the floodgates for a further decline toward $1.80.
On the flip side, a bullish recovery scenario would require a decisive break above the $2.41 resistance.
This would invalidate the bearish outlook and potentially drive XRP toward $2.60, aligning with the 100-day SMA. However, without a surge in buying volume, XRP may remain vulnerable to further sell-offs.
Frequently Asked Questions (FAQs)
XRP’s decline is linked to uncertainty over SEC Chair nominee Paul Atkins, with investors fearing potential regulatory challenges for crypto assets.
Yes, approval of an XRP spot ETF could drive institutional demand andpush prices higher, but regulatory uncertainty remains a key risk.
Over $220 million in XRP derivatives positions have been closed in the past 10 days, reflecting weakening investor confidence.
ibrahim
Crypto analyst covering derivatives markets, macro trends, technical analysis, and DeFi. His works feature in-depth market insights, price forecasts, and institutional-grade research on digital assets.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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