XRP faces a critical juncture as it struggles to reclaim $2.20 and break the $2.23–$2.24 resistance zone, with technical indicators signaling ongoing bearish pressure.

The token slipped below $2.20 amid a daily death cross, renewing selling momentum and setting up a key support test that could determine whether the broader correction intensifies into December. Previous ETF-driven strength failed to hold, despite three consecutive sessions of net inflows into Franklin Templeton’s XRPZ and Grayscale’s GXRP.

Binance exchange reserves have fallen to 2.7 billion XRP — the lowest level in over a year — following roughly 300 million XRP withdrawals since October. This points to long-term holders and institutional desks continuing to accumulate during weakness, though spot demand has not yet counterbalanced short-term liquidation flows driven by derivatives unwinding and risk-off sentiment across crypto.

XRP’s decline from $2.22 to $2.18 confirmed rejection at the $2.23–$2.24 resistance range, reinforcing a descending channel that has guided price action over the past two weeks. The death cross adds structural weight to this pattern, with a series of lower highs at $2.185, $2.180, and $2.178.

Momentum indicators remain subdued. RSI has repeatedly failed to reclaim its midline on bounce attempts, reflecting persistent selling pressure, while MACD continues to drift deeper into negative territory. Price remains below all key short-term moving averages, and the 50-day MA is now sloping sharply downward — a setup that historically favors follow-through selling over immediate recoveries.

Despite the bearish technical picture, on-chain metrics suggest an underlying bid is forming. Steady ETF inflows and declining exchange balances indicate mid-term accumulation, even as near-term charts remain decisively negative. XRP briefly stabilized at $2.17–$2.18 before thinning activity led to a slight rebound toward $2.21 overnight, leaving the token range-bound but vulnerable.

The $2.17–$2.18 zone is now pivotal. A break below exposes $2.08, followed by the broader $1.90 area, which analysts consider the key threshold separating a routine correction from a deeper retracement.

To regain upward momentum, XRP must reclaim $2.20 and push past $2.23–$2.24 with expanding volume. Without both, any bounce is likely to remain corrective. Historical patterns associated with the death cross suggest that downside risk will persist until the token recovers above the 50-day moving average. ETF inflows may limit structural damage but are insufficient to override short-term technical weakness on their own.