XRP Price Struggles as Bearish Pressure Mounts

XRP continues to face downward momentum as it trades near $2.97, slipping below the critical $3 psychological level. The asset remains locked inside a descending channel, with consistent lower highs compressing price action and reinforcing bearish sentiment. Every attempt at recovery meets selling pressure at the resistance line, suggesting continuation of the downtrend.

Technical indicators highlight further challenges ahead. The 200-day EMA, trending downward around $2.58, could act as a key long-term support zone. However, without renewed buying strength, XRP risks slipping closer to the $2.80–$2.50 range. A deeper retracement would erase much of its recent bullish gains. The lack of significant trading volume adds to the weakness, with hesitant market participants showing little conviction in recent rallies.

Momentum readings offer little relief. The RSI remains mid-range, leaving room for further decline before oversold conditions emerge. Bulls need a decisive breakout above $3.10–$3.20 to challenge the channel’s upper boundary and regain short-term control. Without it, the path of least resistance remains downward.

The break under $3 has dealt a psychological blow, heightening the risk of extended downside. Unless buyers step in with strong volume, XRP may continue to struggle in the bearish channel. Traders should watch closely for support at $2.80 and $2.50, as failure to hold these levels could intensify selling pressure.

In summary, XRP’s technical outlook remains weak. The persistent descending channel, declining EMA, and lack of volume signal more downside risk unless bulls reclaim control above $3.20. Until then, the asset may drift lower, testing critical support levels.