XRP price today is down 3.50% to $2.42, following legal hurdles around the Ripple vs SEC settlement.

Growing trading volume shows strong market activity during the pullback. RSI and SMA suggest weakening momentum, cautioning a further downside if $2.35 support breaks.

The price of XRP today is down, potentially influenced by the ongoing complications in the Ripple vs SEC settlement.

Moreover, analysts expect Bitcoin approaching the crucial $105,000 level to pose risks to the broader crypto market if it faces heavy rejection or sudden volatility.

However, growing trading volume is indicating strong market activity even during this pullback.

Additionally, the Relative Strength Index (RSI) and the SMA suggest a slight weakening of momentum, which may favor further downside if the $2.35 support breaks.

How Is XRP Doing Today?

At press time, XRP is changing hands at $2.42, with a 3.50% daily loss, and a market capitalization of $142.04 billion.

Short-term traders seem to have ceased the buying opportunity, evidenced by the 24-hour trading volume increasing by 19.52%, settling at $5.75 billion.

As shown in the chart above, XRP is moving within a rising channel pattern, which is typically a bullish sign.

But a minor pullback from the upper resistance level near $2.60 has taken the price closer to the midline support zone, which is crucial for determining the next move.

The RSI is now at 56.91 and is closely approaching the oversold zone, while the 9-period SMA is at 57.67.

Although still in the neutral zone, the RSI shows signs of bearish divergence after peaking above 70 earlier this week, which could favor more downside unless bulls regain control.

Where Is XRP Heading Next?

A break below the $2.35 support may lead to a steeper correction toward the lower trendline near $2.20 or even $2.00.

On the upside, a strong surge above $2.51 and ultimately $2.60 could easily reinstate bullish momentum, possibly aiming for $2.80.

Keen on long-term XRP price target? Read our Ripple XRP Price Prediction 2025, 2026-2030!

Yes, XRP is currently in a rising channel, which is typically a bullish pattern. However, near-term indicators show potential weakness.

A break below $2.35 may trigger a decline toward $2.20 or the lower channel support around $2.00.

The price of 1 XRP at the time of press is at $2.42, with a change of -3.50% in the past 24 hours.