Technical outlook: XRP risks deeper downside before potential rebound

XRP is trading at $2.79, extending losses after slipping below the 100-day Exponential Moving Average (EMA) at $2.85. This breakdown underscores bearish dominance in the market. The Relative Strength Index (RSI) holds lower at 41 on the daily chart, pointing to intensifying selling pressure that could see XRP retest the $2.70 support, last visited in late September.

Bearish momentum is further backed by the Moving Average Convergence Divergence (MACD), which recently confirmed a sell signal with the blue line staying under the signal line. If this sentiment persists, the 200-day EMA at $2.64 could become the next key defense level.

XRP also remains capped under crucial short-term averages: the 20-day EMA at $2.914, the 50-day EMA at $2.925, and the 100-day EMA at $2.85. This EMA cluster above price forms a tough resistance zone. Still, if dip-buyers step in at the $2.70 demand area, a rebound could follow, targeting the descending trendline and the psychological $3.00 level.

$XRP
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