XRP price approaches the $2.00 support after rejecting from key resistance at $2.72. Bearish momentum builds with signs of a potential bottom emerging.
Summary
- XRP tests $2.00 high-timeframe support after impulsive correction.
- Holding this level could form a bottoming base for recovery.
- Break below $2.00 would confirm continuation of bearish structure.
XRP (XRP) price is heading toward a crucial retest of the $2.00 high-timeframe (HTF) support, following a sharp decline from the $2.72 resistance. Despite the recent downside momentum, early signs of demand are appearing around this psychological level, raising the question of whether a bottom could be forming in the near term.
XRP price key technical points:
- Major Support: $2.00 psychological and high-timeframe support zone.
- Resistance to Watch: $2.72, marking the previous range high.
- Market Structure: Bearish impulse move into potential accumulation range.
Since breaking the $2.72 resistance, XRP has seen an impulsive downside rotation, driving price action toward the $2.00 HTF support. This zone now represents a critical region for buyers to step in and defend the structure. So far, two consecutive candle closes have held above this level, suggesting local demand despite broader bearish pressure.
The $2.00 mark also carries psychological significance, acting as a potential base for accumulation. As long as price continues to close above this level, the probability of a reversal or range rotation back toward $2.72 remains intact. If this scenario unfolds, XRP could establish a mid-range consolidation pattern that may ultimately lead to a breakout rally.
For this bullish thesis to materialize, XRP must build a clear bottoming structure at current levels. Evidence of accumulation, such as multiple higher lows or a reclaim of the short-term moving averages, would signal that buyers are regaining control. However, the absence of bullish volume influxes continues to weigh on sentiment, making the next few daily closes critical for confirmation.
The broader market structure remains bearish in the short term, but the emergence of support-driven wicks and tightening range behavior suggests that selling momentum may be slowing. Should buyers continue to absorb sell pressure above $2.00, this region could serve as the foundation for the next upward leg.
What to expect in the coming price action
In the immediate short term, XRP must defend $2.00 to maintain any chance of a reversal. A sustained close below this level would invalidate the current accumulation thesis and expose deeper downside targets.
Conversely, holding the $2.00 region could mark the beginning of a stabilization phase and eventually trigger a rally back toward $2.72, the next key upside target.
