BitcoinWorld – The cryptocurrency, XRP, is currently navigating a bearish downward channel trend that has raised concerns for investors. The price action has been struggling to break through resistance levels above $2.4, leading to a decline below the critical support level at $2.28. This pattern could pose further challenges for the XRP market and trigger more selling pressure. analysts believe this move is a result of multiple failed attempts to overcome key resistance levels and suggests that short-term volatility might continue. Technical indicators like the RSI, which has moved into oversold territory, are signaling potential for either a bounce or continued downward movement. Meanwhile, the MACD, which recently formed a death cross, confirms the bearish trend. These signals indicate heightened selling pressure in the market, but some traders may see it as an opportunity for contrarian positions.