Ripple price analysis (Bearish) — 2.29 USDT (-5.59% 24h)

XRP is showing concerning technical weakness as it trades at $2.29, down 5.59% over the past 24 hours. The cryptocurrency has broken below both its 20-day SMA ($2.35) and 50-day SMA ($2.41), indicating sustained selling pressure. The RSI reading of 34.86 suggests XRP is approaching oversold territory, which could present a potential buying opportunity for contrarian traders. However, with volatility at 6.14% and daily volume exceeding $517 million, the momentum remains clearly bearish in the short term. Traders should watch for support around the $2.25 level – a break below could trigger further declines toward $2.15. For long-term holders, current levels might offer accumulation opportunities, but risk management remains crucial given the downward momentum. Consider scaling into positions rather than going all-in at current levels.