XRP’s price action has softened in recent sessions, with the token trading below $2 after failing to sustain a recovery attempt. The move has shifted near-term momentum in favor of sellers as price closes below short-term dynamic support on higher timeframes. CoinsKid’s interpretation of the 5-day chart describes XRP as tracing a three-wave corrective move, with the latest bounce to around $2.4 viewed as a retracement within a broader downtrend. The analysis notes that a loss of the 5-day ribbon has coincided with the shift in momentum, reinforcing the bearish outlook.
Looking ahead, the chart points to a rising multi-year support trendline in the $1.30 to $1.40 area that could provide a floor if selling pressure continues. If the current corrective move persists, XRP could rotate toward that zone over the coming months. Only a sustained move back above the 5-day ribbon would upset the bearish thesis and reduce the likelihood of revisiting that lower region.
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