XRP is trading at $2.05, with a market cap of $119 billion and trading volume of $1.87 billion. The asset faces a bearish outlook across multiple timeframes, characterized by low buying interest and continuous sell pressure. Key resistance levels exist around $2.15 to $2.18, while significant support remains at $2.05. Traders are cautious as oscillators suggest underlying weakness amidst neutral indicators.

XRP currently maintains a price of $2.05, holding a market capitalization of $119 billion and a trading volume of $1.87 billion within the past 24 hours. The cryptocurrency has fluctuated between $2.05 and $2.16 in the last day, while its weekly range has spanned from $1.97 to $2.19. As of April 6, 2025, it appears to face a challenging technical formation indicative of a defensive market sentiment.

The one-hour chart illustrates a clear downtrend, with XRP dropping from a high of $2.176 to $2.046, highlighting recent weaknesses. Although minor relief bounces occurred, they were accompanied by low trading volumes, undermining bullish arguments. Red candle volume spikes further affirm the dominance of sellers, maintaining a prevailing bearish sentiment with no strong reversal signals present.

In the four-hour chart, the downtrend is reinforced, as XRP saw a decline from a peak of $2.233 to $1.96, followed by a weak recovery attempt. Strong resistance is noted in the $2.15 to $2.18 range, and recent trends below $2.10 indicate ongoing seller pressure. The formation of a bull trap may have occurred, further complicating any upward movement amid significant volume-driven pressures.

The daily chart suggests the presence of a potential distribution phase characterized by lower highs and lower lows ensuing from the rise to $2.5–$2.6. Key resistance lies around $2.90, with softer support at $1.90. The decreasing volume profile points to reduced bullish momentum, while the lack of clear reversal indicators implies that the current downward trend may persist, keeping XRP trapped between $2.10 and $2.15 without increased buying interest.

Oscillator indicators remain chiefly neutral, demonstrating underlying weakness. The RSI is positioned at 40.07, while stochastic and CCI indicators stand at 27.44 and -82.15, respectively. The ADX reads 17.47, and the awesome oscillator is at -0.195, which collectively suggest neutrality. Yet, both momentum and MACD readings signal selling pressure, reflecting a divided outlook among traders who anticipate further declines or potential reversal signals.

Fibonacci retracement levels provide additional insights on potential price reactions. In the one-hour chart, critical resistance emerges at the 38.2% level of $2.126 and the 61.8% at $2.096. Similarly, for the four-hour timeframe, the levels are marked at 38.2% at $2.129 and 61.8% at $2.064. Daily chart levels identify the 38.2% at $2.518 and 61.8% at $2.282, essential in ascertaining XRP’s support or chances of breaks below key retracement levels.

Moving averages align with the bearish perspective. The ten-period EMA is located at $2.13781, while the ten-period SMA is recorded at $2.11141, indicating bearish signals. All short- and mid-term averages are positioned below the current price, reinforcing a negative outlook, while only the 200-period EMA and SMA suggest long-term bullish support at $1.95048 and $1.84017, respectively. Trend followers are likely to adhere to this prevailing bearish momentum across pertinent indicators.

Analyzing bullish prospects, if XRP manages to maintain levels above the critical support near $2.05 and recovers the $2.10–$2.15 range with significant volume, a break toward the $2.18–$2.20 region may be plausible. A successful close above this resistance, combined with an oscillator momentum shift and price movement above key short-term moving averages, could indicate a bullish reversal.

Conversely, the bearish trend persists across all timeframes, as XRP consistently generates lower highs and struggles to maintain support above $2.10. In the absence of renewed bullish volume and shifts in key moving averages, the cryptocurrency may revisit prior support zones or potentially drop below $1.95. Numerous sell signals from momentum indicators and moving averages buttress the continuation of the ongoing downtrend.

In summary, XRP remains in a precarious position, exhibiting overall bearish trends across multiple timeframes. Weak buying interest and significant sell pressure further complicate any recovery potential. Continued monitoring of key support levels and volume trends will be essential for determining the future direction of XRP’s price. Overall market sentiment trends toward caution as traders remain vigilant amidst uncertain market conditions.

Original Source: news.bitcoin.com

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