XRP Faces Potential Further Decline as Technical Indicators Suggest Cooling Momentum

Key Points

1. XRP has broken below the $3 Bollinger Bands midline, indicating a loss of upward momentum.

2. Weekly charts suggest XRP could drop up to 20%, testing support near $2.39.

3. The Bollinger Bands' expansion during XRP's rally now suggests a potential transition to lower support levels.

4. XRP's cooling phase may persist longer than bullish investors hope, with downward pressure likely until it returns above the 20-day moving average.

5. Traders should monitor support levels near $2.76 and $2.39 for signs of momentum or further decline.