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Today, the price of XRP is trading near $2.15 after falling more than 18% since November 10. The symbol has spent the last month in a descending channel. The recent structure is now showing weak volume, increasing long-term sales, and the price is close to a major support.
If buyers fail to defend a level, the price of XRP may plunge into a deeper phase of its downward trend.
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A falling channel and a volume break reinforces the bearish formation
XRP continues to move in a bearish channel that has led every rally and decline for over a month. This pattern is a bearish continuation structure, and the last candles show that any recovery attempt is getting weaker.
This weakness is clearly visible in the balance volume (OBV) indicator. OBV adds volume on green days and subtracts it on red days to see if buying or selling pressure dominates. Between November 4th and 9th, the OBV briefly moved above the trend line connecting its lower highs. He answered XRP price Quick recovery in the short term.
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But when OBV slid back under the trend line on November 12, the tone changed. The indicator has been below that line since then, which shows that the buying pressure in the market as a whole has continued to weaken. This is completely in line with the price action: XRP started its decline of 18.6% on November 10, the same period in which OBV started to curve again.
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The lack of strength of the volume means that the buyers did not intervene with conviction. This paves the way for the next measurement.
Long-term holders of the currency increase their sales
The change in holder position of the Glassnode network tracks how supply from long holders enters or leaves exchanges and wallets. It is one of the clearest measures of long-term conviction.
In recent days, long-term holders have increased their sales sharply after falling to a two-week low on November 16:
- November 16: -63.57 million XRP
- November 18: -94.50 million XRP
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Now, that’s a 48.6% increase in long-term flows in just two days.
This confirms that the apparent pressure on the OBV is not a random rumor. It appears at the same time that long-term owners are reducing their positions more aggressively. When long-term seller activity increases while volume weakens, this usually indicates a market that has yet to find its bottom. This view keeps any support level close to risk.
Both OBV and Hodler Net Position Change point to the same idea: buyers are not absorbing the increased selling pressure.
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The most important XRP price levels
fall now XRP price is close to the most important support In the chart: $2.10. This level has acted as a reaction zone several times in the bearish channel. If the daily candle closes below $2.10, XRP may extend towards $1.77, which is the bottom of the long channel.
On the upside, the level that needs to be recovered to negate this bearish pattern is $2.41. Breaking above $2.41 will show that buyers have regained strength and open the way towards $2.58. Only a daily close above $2.58 will reverse the short-term trend to be bullish.
The structure remains currently tilted towards the negative. The weak volume. Long term owners sell faster. The XRP price remains in a descending channel. Unless XRP recovers $2.41, all eyes remain on $2.10. This fragile bottom determines whether XRP will stabilize or enter a deeper slide.
