Ripple price analysis (Bearish) — 2.40 USDT (-4.79% 24h)

XRP is showing significant technical weakness as it trades at $2.40, down nearly 5% in the past 24 hours. The RSI reading of 29 indicates the asset is deeply oversold, suggesting potential for a near-term bounce. However, the current price sits below both the 20-day SMA ($2.48) and 50-day SMA ($2.50), confirming the bearish momentum structure. Trading volume remains substantial at $191 million, indicating active participation in this downturn. The elevated volatility reading of 3.36% suggests traders should expect continued price swings. For position traders, this might present a buying opportunity given the extreme oversold conditions, but strict stop-losses below $2.35 are advisable. Day traders should watch for consolidation around current levels before considering long entries, with resistance expected near the $2.48-2.50 SMA confluence zone.