XRP Technical Analysis: 2 APR 2025
A bearish pennant is appearing on XRP. Source: TradingView
General View
XRP’s recovery has stalled as the price struggles to negate the bearish diamond top pattern, despite strong bullish attempts. Furthermore, the formation of a bear pennant suggests that bearish momentum remains dominant. Sellers continue to cap any relief rallies, keeping the price under pressure and reinforcing the risk of a deeper correction if key support levels fail to hold.
On The Upside
XRP needs strong momentum above $2.20 to negate the ongoing selling pressure. For now, there have been multiple rejections from this resistance zone. As for the session, there are intraday resistances at $2.12 and $2.15.
On The Downside
The bear pennant pattern suggests a continuation of the broader bearish trend. If XRP fails to hold the $2.00 demand zone, a breakdown could see the price testing $1.90, which is a 50% Fibonacci retracement, with a further decline toward $1.80 if selling pressure persists.
Price is taking support from the ascending trendline support. Source: TradingView
