XRP remains under pressure as it struggles to reclaim $2.20 and overcome resistance near $2.23–$2.24, with bearish technical signals dominating short-term momentum.
The token dipped below $2.20 following a daily death cross, testing critical support levels that could determine whether the ongoing correction extends into December. ETF inflows from Franklin Templeton’s XRPZ and Grayscale’s GXRP provided limited support but were insufficient to sustain a rally.
Binance exchange reserves dropped to 2.7 billion XRP — the lowest in over a year — after roughly 300 million XRP left the platform since October, highlighting accumulation by long-term holders and institutions. Spot demand, however, has not offset short-term liquidation from derivatives unwinds and broader risk-off sentiment.
XRP’s decline from $2.22 to $2.18 confirmed rejection at the $2.23–$2.24 resistance zone, reinforcing a descending channel that has shaped price action over the past two weeks. Momentum indicators remain weak: RSI struggles to reclaim its midline, MACD continues lower, and price sits below all key short-term moving averages, with the 50-day MA sloping downward.
Despite near-term bearishness, on-chain metrics show some underlying support. ETF inflows and declining exchange balances suggest mid-term accumulation. XRP briefly stabilized at $2.17–$2.18 before a minor overnight bounce to $2.21, keeping the token range-bound but vulnerable.
The $2.17–$2.18 zone is now critical. A breakdown would expose $2.08, then $1.90, marking the line between routine correction and deeper retracement. To regain momentum, XRP must reclaim $2.20 and clear $2.23–$2.24 with expanding volume. Until the 50-day moving average is retaken, downside risk remains elevated.
