XRP Weekly Sell Pressure Tests $1 Support as RSI Stays Bearish
XRP is down about 10% on the weekly chart as sellers push price back toward the $1 level. After a bearish retest near $1.3 resistance, sell volume has re-accelerated, with pressure building to force another test of $1.
On the daily chart, sell volume has dominated since early June (18 of the last 26 days), implying rallies may struggle until XRP holds support. Momentum remains weak: the daily RSI was rejected near 50 and slid lower, so XRP is still trading with a bearish bias. Bulls typically need RSI to reclaim and hold above 50 to improve odds of a sustained bounce.
Key levels: support at $1; resistance around $1.3 first, then $1.6 and $2 if XRP rebounds.
Trading focus: watch whether XRP can defend $1 on a retest. A failed hold would likely invite further downside, while a strong defense could trigger short covering and a rebound attempt toward $1.3.
Bearish
The update keeps a bearish setup for XRP. The weekly trend is pressured by renewed sell activity after a bearish retest around $1.3 resistance. Daily sell-volume dominance since early June suggests rebounds are likely to fade unless the $1 support is defended.
Momentum indicators also lean bearish: RSI was rejected around the 50 level and is sliding lower, reinforcing that sellers still control the near-term direction. Traders are therefore likely to frame decisions around the $1 retest outcome: a sustained hold could spark short covering and a corrective bounce toward $1.3, but a failed defense would increase the odds of further downside. Over the longer term, the inability to reclaim RSI>50 and to regain key resistance would keep bearish structure intact.