Descending channel signals sustained bearish momentum with sellers in control.
Low trading volumes highlight weak buyer conviction and fragile sentiment.
XRP has fallen to $2.81, marking a 6.01% decline in the latest session. The cryptocurrency continues to struggle under persistent selling pressure, with its price action locked in a descending channel.
The break below the key $3 threshold has weakened sentiment further and raised the risk of deeper retracement in the coming sessions.
The fall reflects not just a psychological setback, but also the continuation of a broader downward pattern that has been in play for weeks. Lower highs have repeatedly forced XRP into tighter ranges, leaving traders cautious about entering long positions.
With subdued trading volumes and no significant signs of a bullish reversal, the latest slide underscores the fragility of its current position in the market. Unless momentum shifts soon, XRP could remain on the defensive with downside targets still in play.
XRP has been trading within a downward-sloping channel for weeks, with lower highs steadily compressing price movement.
Every attempt at recovery has been rejected at resistance levels, reinforcing the bearish structure.
The channel has also narrowed to the point where smaller price swings reflect reduced trader confidence, suggesting that a strong move in either direction may be imminent.
The recent slide to $2.81 adds weight to the pattern, suggesting that sellers remain in control. The 200-day EMA, trending downward at around $2.58, is now the next key support.
If downward momentum builds, XRP could test the $2.80 zone again or slip closer to $2.50 in the short term.
A failure to defend these levels could leave the market exposed to even deeper losses, especially if broader crypto sentiment weakens at the same time.
Technical indicators underline the pressure on XRP. The RSI remains neutral at 39.55, showing that XRP has scope for further declines before oversold conditions emerge.
This means sellers still have room to drive the price lower without triggering a rebound.
The moving averages also offer little relief, with the short-term trend lines pointing down and the longer-term averages continuing to tilt lower.
For the trend to reverse, XRP would need to break decisively above $3.10–$3.20, which marks the upper boundary of the channel. Without such a move, the path of least resistance remains downward.
Traders are also monitoring momentum indicators for signs of divergence, which could signal whether current weakness is losing strength, but for now no such signals have appeared.
Trading volume has also been subdued, amplifying the weakness. Recent rallies have lacked conviction, with buyers hesitant to re-enter the market at current levels.
This absence of strong participation suggests that confidence in XRP’s ability to sustain higher prices remains low.
Short-lived bursts of activity have not been enough to counter consistent selling, and the lack of depth in the order books makes the price vulnerable to sharper moves when pressure builds.
Until buyers return with enough strength to sustain momentum, XRP is likely to remain under pressure inside its bearish channel.
Analysts are closely watching liquidity across exchanges, as thin volumes may make support levels less reliable in the days ahead.
The decline to $2.81 highlights how weak technicals and low volume are shaping XRP’s short-term performance.
Unless the token can reclaim and hold above the $3 mark with stronger demand, it faces the risk of moving closer to $2.50.
Traders will be watching support at $2.58 closely, as further losses could erase much of its earlier recovery gains.
A sustained move back above $3.20 would be required to signal a change in trend, but with current momentum still favouring sellers, XRP remains in a fragile position.
The post XRP falls 6% to $2.81 as bearish channel signals more downside appeared first on CoinJournal.
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