After stalling beneath the $2.20 handle, XRP price today is retreating under mounting pressure from a descending triangle structure. At the time of writing, XRP trades at $2.148, down over 1.4% in the past 24 hours, with price action pressing into the lower support band around $2.14. The broader structure suggests a decisive breakdown could be approaching if bulls fail to defend this zone. What’s Happening With XRP’s Price? XRP price dynamics (Source: TradingView) The short-term XRP price action on the 30-minute chart reveals a clear rejection from $2.18, followed by a progressive decline along a descending resistance trendline. This setup is forming a bearish triangle, with the lower support base between $2.13 and $2.14 now repeatedly tested. A break beneath this could open the door for a move toward $2.10 or even $2.08. The daily chart reinforces this weakness, with XRP extending its rejection from the $2.50–$2.60 resistance band. This red supply zone has capped multiple upside attempts since April, confirming it as a major bearish block. Price is now leaning on a rising trendline that dates back to March lows. If this base collapses, a deeper pullback into the $2.00–$2.04 green demand zone is likely. Indicators Signal Growing Bearish Pressure XRP price dynamics (Source: TradingView) Momentum signals across timeframes continue to lean negative. On the 30-minute chart, the RSI has already dipped below 40, aligning with weakening near-term demand. The MACD on both intraday and 4-hour charts remains in bearish territory, with a flat-to-negative histogram and signal line divergence. This suggests that any attempt at recovery is currently lacking conviction. XRP price dynamics (Source: TradingView) Stochastic RSI has reset to oversold levels on the 30-minute chart but without a crossover confirmation, indicating that the bulls are not yet prepared to initiate a strong counter-trend rally. Meanwhile, the Chande Momentum Oscillator reads around -30, reinforcing a broad downside bias. Ichimoku and Bollinger Bands Highlight Compression Risk XRP price dynamics (Source: TradingView) The Ichimoku Cloud on the 30-minute timeframe shows XRP trading just below the cloud base, with both Tenkan-sen and Kijun-sen lines flattening. This typically signals a pause or a prelude to volatility expansion. If XRP fails to recover back into the cloud near $2.16, further downside may follow. XRP price dynamics (Source: TradingView) Bollinger Bands on the 4-hour chart are narrowing, reflecting declining XRP price volatility. This tightening range suggests that a breakout — likely to the downside — may be imminent. Price remains below all major EMAs, with the 20/50 EMA cluster ($2.17–$2.23) now acting as dynamic resistance. Why XRP Price Going Down Today? XRP price dynamics (Source: TradingView) The answer to why XRP price going down today lies in a combination of weakening structure, rejection from supply, and lack of bullish momentum. Sellers have repeatedly defended the $2.18–$2.22 zone, while buyers have struggled to hold $2.15 support. This has led to a breakdown from the short-term rising wedge that had formed late last week. XRP price dynamics (Source: TradingView) Additionally, the longer-term descending trendline from April remains unbroken, adding to bearish conviction. The weekly Fibonacci retracement chart shows XRP is back below the 38.2% retracement near $2.21, further weakening the technical backdrop. XRP Short-Term Forecast and Key Price Levels XRP price dynamics (Source: TradingView) Looking ahead, if XRP price loses the $2.14–$2.13 support base on volume, the next downside target lies near $2.10, followed by $2.04–$2.00, which coincides with a strong confluence of trendline and horizontal support. On the flip side, a recovery above $2.18 is needed to negate the bearish structure and allow for a retest of $2.22 and then $2.25. However, upside remains limited unless XRP can reclaim and close above the 200 EMA at $2.28 on the 4-hour chart. With both price action and momentum indicators tilting bearish, traders should closely monitor price behavior near the $2.13 level. A confirmed breakdown could accelerate downside momentum into early June. XRP Technical Forecast Table: June 3 Indicator/Zone Level (USD) Signal Resistance 1 2.1820 Minor recovery cap Resistance 2 2.2200 Major supply zone Support 1 2.1300 Breakdown trigger level Support 2 2.0400 Strong structural base 200 EMA (4H) 2.2850 Trend-defining resistance RSI (30-min) 37.9 Weak bearish momentum MACD Histogram (4H) Negative Bearish trend continuation Bollinger Band Width Tightening Volatility expansion near Chande Momentum (30-min) -30.09 Firm downside bias Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.