XRP's price action has diverged sharply from the optimism that gripped the market days ago. Technical indicators across multiple time frames paint a concerning picture for the cryptocurrency. Bollinger Bands on all major charts reveal why the asset continues its descent rather than finding stability.
At the time of writing, XRP trades at around $2.02, indicating a 2.84% decline in the last 24 hours. Weekly losses stand at 7.4%.
XRP price chart, Source: CoinMarketCap
The market's behaviour suggests traders are losing confidence. Each attempted rally loses steam faster than the previous one. Price movements indicate the digital asset never established a sustainable foundation above critical levels. The technical structure points toward additional downside pressure in the near term.
Monthly and Weekly Charts Reveal Structural Weakness
The monthly chart delivers the most telling evidence of XRP's predicament. The midband remains anchored below $2, floating between $1.82 and $1.85. This positioning indicates the market never accepted higher valuations as legitimate. The recent rally extended well beyond this zone, but failed to shift the underlying trend. The price is now gravitating back toward levels that the market considers accurate.
Weekly data reinforces this bearish outlook. XRP trades beneath the midband at $2.69 and clings to the lower band near $1.94. The asset has repeatedly tested this lower boundary without producing a meaningful bounce. Previous support at $2.20-$2.30, which once served as a launching point for upward moves, now acts as resistance. The market refuses to sustain gains above this range.
Source: TradingView
Technical patterns show that each recovery attempt weakens progressively. This deterioration typically precedes a more forceful retest of support levels. The lower band has repeatedly absorbed selling pressure, but buying interest remains absent. Volume profiles suggest participants are unwilling to defend current prices aggressively.
Daily Time Frame Confirms Bearish Momentum
The daily chart tightens the case for further declines. The midband sits at approximately $2.12, a level XRP has traded below for weeks. The lower band near $1.95 has been reached multiple times without triggering sustained buying. The bands themselves are beginning to slope downward, a development that signals momentum has not reversed.
Price compression near the lower band often precedes breakdowns. The bands contract when volatility decreases, then expand when a directional move emerges. Current positioning suggests the next significant move may favour sellers. Buyers have not stepped in with sufficient force to reclaim the midband, leaving the path of least resistance pointing lower.
Shorter time frames fail to contradict this bearish narrative. Four-hour and hourly charts show consistent selling pressure on rallies. Resistance zones form at progressively lower levels. This pattern indicates distribution rather than accumulation. Market participants are exiting positions on any price strength.
