At the recent weekend, XRP witnessed a sharp downturn, failing to surpass $2.2 and signalling possible further losses before any form of recovery could begin by its bulls. This dip was particularly concerning because it occurred at an important supply zone which has historically provided stable support.
Bearish Sentiment Amplifies at Critical Supply Zone
An analysis highlighted a critical supply zone at $2.27 that caused XRP prices to dip back below $2.2 threshold once more. This event raised alarm, not only because of this single event but also due to the pattern of lower highs emerging that signal increased bearish pressure.
Information compiled demonstrates an area with significant institutional interest has entered a distribution phase, suggesting the price of XRP may continue its downward trajectory for some time to come.
The Road Ahead for XRP Prices
Given XRP’s bearish outlook, certain levels have been identified as critical for its short-term trajectory. If it breaks below $2 support, potential recovery or further decline lies at $1.95; failure to hold this level would expose XRP to lower demand zones around $1.60-1.69 where past activity indicates strong support.
Still, there remains hope of a bullish turnaround should XRP manage to breach the key $2.27 supply zone and break through. Such an event would require significant trading volume increases and market momentum changes which suggest further uptrend potential.
