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The price of XRP has fallen almost 9% this week, showing clear weakness after failing to maintain its recent rally. Sellers remain in control for now, but a level of support remains firm.
Determining whether this level holds determines whether XRP will form a cycle bottom or slide into a deeper correction.
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Momentum is showing weakness, but support remains in place
The first sign of stress comes from the moment. Between October 13 and November 10, XRP made a lower high While the Relative Strength Index (RSI) achieved a higher peak. The RSI tracks buying pressure, and this pattern is called a hidden bearish divergence. It shows that purchasing power was increasing, but not enough to push the price up.
This shows the decline of the week.
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Even with this weakness, the $2,154 range remains stable. This is not just a level in the chart. The cost heatmap confirms this. Between $2,161 and $2,174, XRP has a large block supply The amount of 1.359 billion tokens.
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This makes this range the strongest support in the short term. The $2,154 level on the chart is directly below this block and could be the only thing between a rebound and a collapse.
If this range holds, the divergence can be considered “executed”, and the door opens for a recovery attempt.
The sentiment shows that a bottom may be formed
The second sign refers to the psychological aspect, on November 16 the net profit and loss for XRP fell to 0.32, its lowest reading in a year. NUPL measures investor sentiment – ​​whether portfolios contain paper gains or losses.
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The last time NUPL hit a yearly low (0.43 on April 8), the price of XRP rose from $1.80 to $3.54 on July 22. That was a 96% increase.
This time, NUPL fell further, which means that the sentiment has reset more deeply. If the support at $2,154 can hold, the same bottom pattern can also be formed here.
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XRP price levels to watch next
If the price of XRP loses The support is at $2,154, the support range is broken. In this case, there is weak demand up to $2,065, and a drop below $2.06 opens the way for lower levels.
If buyers defend the support instead, the first test of the rally falls to $2,394, a level that has seen several previous rejections. A move above $2,394 starts a real rebound attempt.
If the importance improves further, XRP could push towards $2,696, and a break of this level brings a much stronger recovery on the horizon.
Now, it all boils down to one question: Can the $2,154 support range hold long enough for sentiment to turn around? If the answer is yes, then the price of XRP can form the same kind of bottom that led its last great rally.
