XRP Faces Pressure, With Charts Pointing to a Possible Move Toward $1.50

XRP is under pressure as it struggles to reclaim $2.20 and break the $2.23–$2.24 resistance zone, with technical indicators pointing to persistent bearish momentum.

The token slipped below $2.20 after a daily death cross reignited selling, testing key support levels that may dictate whether the broader correction deepens into December. ETF inflows from Franklin Templeton’s XRPZ and Grayscale’s GXRP offered temporary support but failed to sustain gains.

Exchange metrics show continued accumulation by long-term holders and institutions. Binance reserves fell to 2.7 billion XRP — the lowest in over a year — following roughly 300 million XRP withdrawals since October. However, spot demand has yet to offset short-term liquidation flows driven by derivatives unwinds and risk-off sentiment across crypto.

XRP’s drop from $2.22 to $2.18 confirmed rejection at the $2.23–$2.24 resistance, reinforcing a descending channel that has guided price action over the past two weeks. Momentum indicators remain weak: RSI has struggled to reclaim its midline, MACD continues drifting lower, and price remains below major short-term moving averages, with the 50-day MA sloping downward.

Despite near-term weakness, on-chain metrics show a developing bid. ETF inflows and declining exchange balances suggest mid-term accumulation, even as the short-term chart remains bearish. XRP briefly stabilized near $2.17–$2.18 before a minor overnight recovery to $2.21, leaving the token range-bound but vulnerable.

The $2.17–$2.18 zone is now pivotal. Losing this support exposes $2.08, followed by $1.90, considered a key threshold separating routine correction from deeper retracement. Reclaiming $2.20 and breaking $2.23–$2.24 with expanding volume is crucial for a sustained rebound, while the death cross and broader technical setup indicate elevated downside risk until the 50-day moving average is retaken.