XRP Clings to Critical $2 Support Amid Bear-Bear Tug-of-War

XRP narrowly escaped a decisive breakdown after slipping beneath the psychologically charged $2.00 level, a zone that has repeatedly acted as a demand magnet for the cryptocurrency. Last week’s plunge sliced through its 50-, 100-, and 200-day exponential moving averages (EMAs) and cracked the lower trendline of a long-standing symmetrical triangle—classic bearish signals that briefly pushed sentiment to the brink.

Yet a burst of dip-buying pressure propelled the token back above $2, closing near $1.90 before reclaiming the round-number level in weekend trading. The rebound came with a modest uptick in volume, hinting this was more than a “dead-cat bounce.” Technical indicators support that view: the daily Relative Strength Index (RSI) rebounded from a deeply oversold 34, suggesting sellers may be exhausted in the near term.

For bulls, the immediate objective is to hold the $2.00 floor and target the congestion band between $2.17 and $2.23, where the 50- and 100-day EMAs converge. A sustained close above $2.20 would begin neutralizing the recent bearish break and could reopen the path toward the 200-day EMA—now overhead resistance—at $2.17.

Failure to defend $2 could revive downward momentum, exposing $1.80 and the late-May swing low around $1.65. Until XRP decisively clears multiple sessions above its key moving averages, the broader trend remains fragile.

Traders eyeing fresh entries should monitor volume spikes alongside price action near $2.00; growing accumulation here would reinforce the thesis that long-term investors consider XRP undervalued below this milestone. Conversely, a sharp reversal with rising sell volume would confirm the bearish triangle breakdown and reset downside targets.

In short, XRP’s fate hinges on the $2 battleground—win here, and a relief rally may follow; lose it, and bears regain full control.