XRP Price Drops to Weekly Low as Bearish Pressure Builds and Traders Eye Further Decline

XRP Hits Weekly Low at $2.09 as Bearish Sentiment Grows Among Traders

XRP has slid to a fresh seven-day low of $2.09, sparking renewed concern among traders as technical indicators and market sentiment point to potential further downside.

The cryptocurrency, one of the largest altcoins by market cap, is facing sustained selling pressure amid a noticeable increase in bearish positions. Data from derivatives tracking platform Coinglass shows a steady rise in short positions, suggesting traders are increasingly betting against XRP’s near-term recovery.

Bearish Signals Dominate Market Outlook

One of the clearest signs of waning trader confidence is XRP’s long/short ratio, which currently stands at 0.98. A ratio below 1 indicates that more traders are shorting the asset than going long—a key signal that the market expects continued price declines.

Notably, XRP hasn’t recorded a long/short ratio above 1 since April 22, marking over two weeks of sustained bearish sentiment in its futures market. This prolonged period of short dominance reflects a broader market skepticism around XRP’s short-term prospects.

Technical Indicators Reinforce the Bearish Case

The bearish momentum is also supported by technical analysis. On the one-day chart, XRP’s Moving Average Convergence Divergence (MACD) indicator has just formed a “death cross”—a pattern that occurs when the MACD line crosses below the signal line. This crossover is widely seen by traders as a sign of weakening momentum and the potential for a deeper correction.

Combined with mounting short interest, this technical signal underscores growing market consensus that XRP may continue to slide unless it finds new bullish support.

Support Holds—for Now

Currently trading just above a key support level at $2.03, XRP’s price is treading a narrow line between consolidation and further losses. Should selling pressure intensify, a break below this support could open the door to a drop toward $1.61.

On the flip side, any unexpected surge in demand or positive shift in market sentiment could provide XRP with enough strength to rebound, with potential upside resistance at $2.29.