- XRP struggles to hold support at $2.20 as selling pressure slows after market decline.
- A break above $2.35 could signal recovery, while failure may drop toward $1.90 support.
- Solana rebounds after ETF listing but faces uncertainty from FTX’s upcoming token unlock.
XRP has been in a downtrend after failing to sustain gains above $3.4 in January. The price dipped to a low of $1.77 before stabilizing around $2.22. Despite recent market pressure, XRP is showing signs of consolidation. The price may drop to the QML line at $1.9 before a surge could follow towards $3.4. However, weak trading volume suggests that a decisive move in either direction may require stronger participation.
XRP experienced intensified market declines after macroeconomic concerns and regulatory news negatively affected market sentiment. The Consumer Price Index (CPI) released on February 13 showed inflation rates above forecasts and this triggered a major market sell-off. The Bybit exploit further contributed to negative momentum, adding to uncertainty. Also, U.S. President Donald Trump’s trade tariffs on China, Canada, and Mexico accelerated financial market pressure.
Despite these setbacks, XRP bulls defended the $2.15 support level, preventing further losses. A closer look at the Bollinger Bands shows increased volatility, with XRP testing the lower band. This suggests that the token is in oversold conditions, which could attract dip buyers. However, the absence of strong volume inflows indicates that recovery attempts face resistance.
Source: TradingView
Technical indicators reflect ongoing bearish pressure. The 50-day moving average remains at $2.43, which is above the current price. This highlights the challenge for XRP to regain bullish momentum. Additionally, the Bull-Bear Power (BBP) indicator stands at -0.50, reinforcing the dominance of sellers. Until this turns positive, any upside attempts may struggle to gain traction.
A critical resistance level sits at $2.32, where a previous rebound attempt failed. Reclaiming this level could signal early recovery signs. On the downside, a break below $2.16 could expose XRP to further declines toward the $2.00 support zone. The next major support lies at $1.90, a level where buyers may step in.
Related: XRP Whales Sell 370M Tokens in Four Days as Price Falls
On the other side, the value of Solana (SOL) has undergone major price changes due to external market factors. The continuous selling activity on Binance targeting SOL has caused an immediate drop from $172 to $140. However, recent reports suggest Binance has started repurchasing operations at lower levels to expand its holdings. This shift coincides with the DTCC listing Solana futures ETFs, which provided temporary relief. SOL rebounded 2% to stabilize around $137, but uncertainty remains due to upcoming token unlocks by the FTX.
Market participants remain cautious as XRP and SOL navigate key levels. While XRP struggles with weak buying pressure, potential catalysts could emerge. If trading volume increases and sentiment improves, an upward price movement might occur. Until then, XRP remains in a vital period of market consolidation while waiting for its future movement direction.
