XRP price struggles as bears take control while Bitcoin Pepe continues to rise

XRP price has hit a rough patch, grappling with a bearish market testing its investors’ resilience.

At press time, XRP traded at $2.12, reflecting a sharp 11.54% drop in one week.

Meanwhile, a different story unfolds in the crypto space with Bitcoin Pepe, a Bitcoin-based meme-driven project that’s gaining traction in its ongoing token presale.

With the presale surging past $5.6 million, Bitcoin Pepe’s rise contrasts sharply with XRP’s struggles, highlighting an alternative investment opportunity.

Bears take control as XRP price continues to fall

XRP’s journey since November 2024 has been a rollercoaster, climbing from a modest $0.5040 to a staggering $2.4660 by early January 2025, a 389% leap fueled by optimism.

However, the tide seems to have turned, and the price now teeters within a descending triangle, facing resistance at $2.3882 and clinging to support at $2.

Technical indicators paint a grim picture, with the Relative Strength Index hovering at 39.54, flirting with oversold territory, while the MACD signals bearish dominance with a value of -0.0375 against a signal line of -0.0221.

If the support at $2 crumbles, analysts warn of a potential slide to $1.50404, a level that could shake investor confidence further.

The liquidation heatmap adds another layer of tension, revealing a flurry of long liquidation, a sign that bears hold the reins despite traders hoping for a bullish surge.

However, a sudden bullish surge could trigger a short squeeze, pushing XRP toward $2.31682. Without that momentum, selling pressure might drag it lower, testing the critical $1.93870 threshold.

Analyst Ali Martinez suggests that surpassing $3 could dismantle the current head-and-shoulders pattern, flipping sentiment to bullish, but for now, caution reigns as XRP balances on a knife’s edge.