XRP Technical Outlook: Bears Retest $2.32 Support Zone

XRP remains under heavy selling pressure, extending its decline within a falling wedge formation, a pattern that often precedes bullish reversals. The price is currently holding near the $2.32 Fibonacci 0.236 retracement, a key level that coincides with the lower boundary of the wedge and could determine the next major move.

The token continues to trade below key EMAs, signaling a bearish short-term bias:

20-day EMA: $2.677

50-day EMA: $2.808

100-day EMA: $2.800

200-day EMA: $2.628

Meanwhile, the RSI (14) stands at 31.56, suggesting XRP is entering oversold territory. A rebound from this zone could be near, provided bulls defend the $2.30 level.

A successful recovery above $2.57 (Fib 0.382) and $2.78 (Fib 0.5) may confirm a short-term bullish reversal toward the $3.00 – $3.28 area. However, if sellers push the price below $2.30, further downside could unfold toward $2.10 and $1.90, where stronger demand might reappear.

Key Levels to Watch:

Support: $2.32 • $2.10 • $1.90

Resistance: $2.57 • $2.78 • $3.00 • $3.28

RSI (14): 31.56 — Oversold, potential bounce ahead.

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