XRP Technical Structure Weakens Amid Broader Market Uncertainty
XRP's technical structure has weakened, making it vulnerable to further downside pressure. The cryptocurrency's price action shows lower highs and lower lows on its daily chart, a pattern that often indicates bearish momentum.
The 50-day moving average, which previously acted as support for XRP, remains out of reach. Analysts note that the next significant support zone lies near $0.48, a level that has held since early 2024. If this support fails, the next downside target could be around $0.42.
The Relative Strength Index (RSI) on the daily timeframe is hovering near oversold territory, which can sometimes precede a short-term bounce. However, in a weak trend, oversold conditions can persist for extended periods. Trading volumes have been moderate, with no clear signs of accumulation by large holders, suggesting that institutional interest remains subdued.