Selling Pressure Builds As XRP Tests $2 Support Zone

• XRP trades near $2.03 inside a descending channel, with repeated rejections turning rebounds into slow declines.
• Spot flows show a brief $4.36M inflow, but derivatives activity and open interest continue to fall as traders reduce risk.
• Failure to hold $2 support exposes downside toward $1.83 and potentially $1.72 unless price reclaims $2.39 resistance.

XRP price today trades near $2.03, extending a steady decline that has persisted since September and pushing the token deeper into a controlled downtrend channel. Price recently failed to hold a short-lived recovery attempt and is now testing lower support levels again as sentiment remains fragile. 

The daily chart highlights a persistent descending channel that has capped every rebound attempt for nearly three months. Each push higher has been met with rejection at lower levels, turning the pattern into a grind rather than a sharp collapse. 

The Supertrend remains red, signaling sustained downside pressure, while Parabolic SAR dots continue to sit above price, reinforcing the idea that sellers are still controlling momentum. The recent drop into the lower band of the structure near $2.00 marks a key support zone, but failure to defend it risks another leg lower toward $1.83 and $1.72.

Short Term Breakdown Invalidates Rebound As Price Slides Below Trendline

On the one-hour chart, XRP has broken below a short-term ascending trendline that previously supported a minor rebound. The break triggered a shift back into the lower half of the Bollinger Bands, showing that downside pressure remains active. Attempts to reclaim the trendline have been rejected, and price is now consolidating beneath it, which keeps the bias negative in the near term.

The upper Bollinger band near $2.07 acts as the first resistance, followed by $2.15, where prior rejections occurred. Without a reclaim of that zone, intraday rallies are likely to fade. Short-term structure supports a retest of $2.00 and, if broken, an extension toward $1.95. RSI at 37 reflects weak momentum rather than capitulation, consistent with a slow, pressured drift lower.

The pattern now resembles a failed breakout rather than a reversal attempt. Buyers stepped in, but were unable to force continuation.

Spot Inflows Show Temporary Relief But Trend Remains Negative

Coinglass data shows $4.36 million in inflows in the most recent session, a rare shift after weeks of persistent outflows that have weighed on sentiment. 

While inflows normally signal accumulation, this move appears reactive rather than proactive, with traders attempting to stabilize price rather than chase upside.

Open Interest Declines As Top Traders Reduce Exposure

Derivatives data confirms the reduction in risk appetite. Open interest sits at $3.64 billion, down from recent highs, while futures volume has slid nearly 18% over the past day. Options volume has collapsed by more than 60%, reflecting a lack of demand for directional risk.

Top trader positioning remains largely net-long, but overall exposure has been trimmed. A long-heavy skew with declining open interest often signals exit rather than confidence. Liquidations over the past 12 hours show small, controlled reversals, not panic selling.

This backdrop reinforces the narrative that traders are avoiding aggressive bets on recovery while the trend remains unresolved.

Downtrend Channel Remains Dominant With Major Resistance Ahead

The primary resistance zone sits near $2.39, where the daily Supertrend flips. A break and close above it is required to signal any meaningful shift in structure. Above it, the key reversal level remains $2.91, a level that rejected multiple rallies earlier in the year.

Until that zone is reclaimed, the chart remains in a falling structure with lower highs and lower lows. Buyers are attempting to defend the lower band, but upside attempts have been muted in both magnitude and duration.

The next few sessions will determine whether XRP can consolidate above $2.00 or if the downtrend accelerates toward lower targets.

Outlook. Will XRP Go Up?

• Bullish case: XRP needs to reclaim $2.15 intraday and then break above $2.39 with volume to confirm a short-term reversal. That would open a move toward $2.62 and potentially $2.91, where major selling pressure resides.
• Bearish case: A decisive break below $2.00 exposes $1.83, with deeper risk toward $1.72 if flows remain weak and derivatives activity continues to decline.