- XRP faces strong resistance at $2.20–$2.25, with $2.00 as critical support; a breakdown may accelerate selling pressure.
- RSI at 38.07 nears oversold levels, but a 50-day and 200-day moving average crossover may signal further downside risk.
- Open interest and active addresses decline, indicating weaker market demand and reduced speculative activity.
XRP’s price movement remains a focal point as it struggles to maintain support. On March 31, at the time of publication, XRP was trading at $2.08, a 4.15% decline in 24 hours. The past week saw a 15.37% drop, while the monthly loss is at 4.43%.
Market cap declined by 4.19% to $121.03 billion, with a 24-hour trading volume of $3.02 billion, down by 23.24%. Despite a fully diluted valuation of $207.93 billion, XRP’s market activity weakened, with a volume-to-market cap ratio of 2.48%. The circulating supply is at 58.2 billion XRP.
Bearish Pressure as XRP Tests Key Support
XRP’s price action shows a downward trend, with a 24 hour high of $2.13 and a low of $2.07. Trading volume is at 58.75 million XRP, indicating moderate activity. The RSI is at 38.07, suggesting that XRP is approaching oversold levels.
Typically, RSI below 30 indicates oversold conditions, often leading to temporary rebounds. However, the moving average at 47.53 indicates a strong downward movement, hinting at persistent selling pressure.
The MACD indicator confirms the bearish trend. The MACD line at -0.0280 is below the signal line at -0.0344, suggesting ongoing downward momentum. If MACD fails to recover above zero, further losses may follow.
Additionally, XRP continues trading within a descending channel, with strong resistance at $2.20–$2.25. The support level at $2.00 is critical, as any breakdown could accelerate selling pressure.
Market Trends Indicate Further Price Fluctuations
XRP peaked near $3.38 before experiencing sharp corrections. Recent price fluctuations kept it within the $2.08–$2.33 range. The 50-day moving average is trending downward and nearing a bearish crossover with the 200-day moving average.
If this occurs, it may signal further downside risk. Market activity shows signs of decline. Open interest, which spiked during past price rallies, has fallen to $1.09 billion. This suggests reduced speculative activity.
Daily active addresses, which surged in March, have now dropped to 16,000. Lower engagement shows weakening demand, adding to the bearish outlook. However, maintaining support around $2.08 could allow a rebound, especially if volume increases.
Potential Upside and Downside Scenarios
XRP’s future price movement depends on its ability to hold above $2.00. If buyers step in, a rebound toward $2.20–$2.30 is possible. A move above $2.10 could lead to short-term gains, especially if RSI surpasses 45 and MACD trends toward zero.
However, failure to sustain $2.00 may lead to further losses. A drop below this level could push XRP to $1.90–$1.95. If the 50-day moving average crosses below the 200-day moving average, selling pressure may increase. Monitoring key support and resistance zones closely remains essential.
