XRP Holds For Now, But Data Shows A Brutal Drop To $1.65 May Come Soon

XRP (CRYPTO: XRP) is flat on Tuesday morning, but data shows that any upside price action may just be a temporary relief bounce.

Bearish Retest Forms As XRP Rejects Broken Pattern

XRP Price Dynamics (Source: TradingView)

XRP’s small uptick is occurring directly beneath a heavy resistance cluster, with price tagging the underside of the broken symmetrical wedge.

The token slipped below the lower boundary last week, and today’s green candle is touching that same trendline from below.

Traders view this as a standard bearish retest.

Sellers remain active as long as XRP trades under the EMA band between $2.33 and $2.48.

The 20-day and 50-day averages converge in this zone, forming the next structural test for buyers attempting to regain momentum.

$50M Outflows Reinforce Downside Pressure