XRP Faces Persistent Downtrend Amid Intensified Selling Pressure
- XRP traded at $1.110 on June 5, nearing its recent low of $1.091, after a decline from its May peak of $1.364.
- The price formed lower highs and lows, indicating a clear downtrend with weak buying momentum.
- February support at $1.1188 is critical, with potential resistance between $1.2663 and $1.2806 if recovery occurs.
- Despite macroeconomic pressures, U.S.-listed spot XRP ETFs saw net inflows of about $118 million in May.
- Technical indicators like RSI and MACD signal oversold conditions and continued downside momentum.
XRP’s trading activity shows a persistent downtrend as it struggles to maintain key support levels amid intensified selling pressure and broader market headwinds such as inflation concerns and geopolitical tensions involving the United States and Iran.
With XRP trading near its lower Bollinger Band at $1.10638, maintaining above the critical support level of $1.09 is vital to prevent further declines in the short term.Source
