Ripple price analysis (Bearish) — 2.40 USDT (-1.13% 24h)

XRP is showing clear technical distress as it trades at $2.4024, down 1.13% over 24 hours. The most concerning signal comes from the RSI reading of 23.4, indicating severely oversold conditions that typically precede either a relief bounce or continued capitulation. Price currently sits below both the 20-day SMA ($2.447) and 50-day SMA ($2.455), confirming the bearish near-term structure. However, with trading volume remaining substantial at $345 million and volatility elevated at nearly 4%, we’re seeing significant institutional interest at these levels. For traders, this presents a classic risk-reward setup – consider scaling into long positions with tight stops below $2.35, targeting a retest of the 20-day SMA. More conservative investors should wait for RSI to recover above 30 and a confirmed break above $2.45 before entering. The oversold bounce potential is real, but the underlying trend remains vulnerable until key resistance levels are reclaimed.