XRP Price Today Drops Below $2.45 Resistance as Bears Regain Control

After a volatile mid-May rally that sent XRP price to $2.68, the asset is now retracing sharply toward key support zones.

The price of XRP is slipping today, as the cryptocurrency continues to fall in value. XRP's price is currently trading at $2.31, down 4.8% in the last 24 hours. The cryptocurrency has been steadily declining in price over the past few days, and it seems that the bears are finally starting to regain control.

As the mid-May rally continues to wind down, XRP is slipping toward crucial support zones. A glance at the 4-hour chart reveals rejection from the descending trendline at $2.62, leading to a sharp setback to the $2.28 – $2.31 zone. This region coincides with both a short-term demand block and a former breakout retest zone, potentially offering temporary support.

However, as long as bulls fail to recover the $2.45 – $2.52 supply area, XRP's price action remains vulnerable. A breakdown below $2.26 could expose the asset to a potential drop toward $2.10 and eventually $1.99 – a confluence of the 100-day EMA and long-term uptrend support from early April.

Relative Strength Index (RSI): The RSI on the 30-minute chart has dropped to 36.6, indicating that the price movements are now favoring the sellers more strongly.

Moving Average Convergence Divergence (MACD): The MACD histogram has dipped further into the red, with the signal line well below zero, signaling further loss of bullish momentum.

Ichimoku Cloud: The price has slipped below the conversion line ($2.32) and base line ($2.34), while the cloud itself is thinning, suggesting reduced bullish momentum.

Chande Momentum Oscillator: The Chande Momentum Oscillator reads -37.44, confirming the decline in price strength.

The Bollinger Bands on the 4-hour timeframe are expanding, signaling increasing volatility in the market. The price is currently close to the lower band of the Bollinger Bands at $2.31, which may provide some support for the price.

The price is also currently below all four major EMAs (20/50/100/200) on the 4-hour chart. The 20-EMA and 50-EMA are currently acting as overhead resistance for the price at $2.39 and $2.35 respectively. This setup confirms the ongoing downtrend and signals that the bounce attempts may face rejection if buyers lack volume strength.

The weekly Fibonacci retracement plotted from the November 2023 low to March 2025 high places the 0.236 level near $2.26, which is also a key psychological price floor. If bulls manage to hold this zone, a rebound to retest $2.52 or even $2.68 remains a possibility. Conversely, failure to defend $2.26 could quickly accelerate losses toward $1.91 or even $1.56.

If macro bullish sentiment returns or a positive SEC-related headline triggers renewed interest from retail traders, we might yet see XRP price spikes despite the recent decline.

The recent rise in selling pressure and the failure of the bulls to break out of the $2.45 – $2.52 supply area may be attributing to XRP’s downfall. The rally earlier this week was driven by short-term speculation, and with no fresh catalyst, traders are dumping positions around the resistance zone.

The lower highs on the 4-hour chart and the gradually fading volume indicate that the market participants are distributing the cryptocurrency rather than accumulating it. Additionally, as the broader cryptocurrency market continues to consolidate, altcoins are being pressured to remain defensive, which might also contribute to XRP’s downturn.