<ul class="list-ic vertical"> 
 <li> 1 <a>XRP is under selling pressure, trading in a downtrend.</a> </li> 
 <li> 2 <a>The technical indicators have revealed a bearish outlook for the upcoming sessions.</a> </li> 
</ul> 
The XRP price is below its key moving averages, dispalying underperformance over the past few sessions. Trading in a downtrend, XRP price failed to cross the 20 day EMA mark and faced rejection consistently. 
This week, <a href="https://www.thecoinrepublic.com/2024/05/23/xrp-price-prediction-sellers-still-in-game-whats-next-for-xrp/" target="_blank" rel="noreferrer noopener">XRP price </a>retested its demand zone of $0.4500, but a rejection wick was made. Sellers are looking to breach the zone. 
The price action highlights low volume trading activity and that bulls are on the backfoot, looking underconfident to buy at the dips. For weeks, XRP continued to correct from the higher trajectory and witnessed a sizable fall of over 25% in the last two months. 
Last month and this month, XRP retested the demand zone of $0.4500. 
At press time, the XRP was trading at $0.4949 with an intraday drop of 0.15%, reflecting flat moves throughout the session. It has a monthly return ratio of -5.30% and -8.20% yearly, reflecting short term consolidation. 
The pair of XRP/BTC is at 0.00000713 BTC, and the market cap is $27.45 Billion. Analysts are neutral and suggest that XRP may reveal a rebound from the demand zone shortly. 
<h2 class="wp-block-heading" id="strong-could-xrp-bulls-resist-selloff-amidst-downtrend-strong">Could XRP Bulls Resist Selloff Amidst Downtrend?</h2> 
Amidst the ongoing downtrend noted on the chart, XRP has not yet breached the demand zone and a pullback was revealed multiple times. 
A descending triangle pattern was observed on the chart, and if XRP breaches the downward sloping trendline, a smart recovery may be seen shortly. <iframe loading="lazy" title="Santiment Chart: Price (XRP), Volume (XRP)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=pepe&amp;pt=PEPE&amp;df=2024-01-30T00%3A00%3A00.000Z&amp;dt=2024-06-07T18%3A29%3A59.909Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bxrp%3BXRP%5D%3B%5B1%3Bvolume_usd%3Bxrp%3BXRP%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
Source: Santiment 
Nonetheless, the trading volume remained flat around $824.99 Million, noting a drop of over 12% in the last 24 hours. 
Ranked 7 in terms of market cap and with a total supply of 99.99 Billion, XRP might outperform in the coming sessions if it succeeds crosses the trendline hurdle of $0.5400. 
The RSI curve stayed in the oversold region and revealed a bearish crossover, indicating a bounce soon. 
A tweet by @Brett Hill plotted a chart of XRP mentioning that XRP has regressed to its growth phase. He highlighted that the same thing happened in December 2017, from where price began to skyrocket. 
This chart shows that XRP might unlock a fresh rise and might retain the bullish momentum. 
<center>
 <blockquote class="twitter-tweet">
 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> is on track to reach a new all-time high, and the majority of people will cash out at $1. If you're planning to hold on, give this a thumbs up! Additionally, <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> and <a href="https://twitter.com/hashtag/XLM?src=hash&amp;ref_src=twsrc%5Etfw">#XLM</a> are transforming the banking and financial sector. The future is unfolding before our eyes!… <a href="https://t.co/yEPxVj7AFC">pic.twitter.com/yEPxVj7AFC</a>— Brett Hill (@Brett_Crypto_X) <a href="https://twitter.com/Brett_Crypto_X/status/1797629377951228284?ref_src=twsrc%5Etfw">June 3, 2024</a>
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center> 
Source: X 
Going forward, a tweet by @XRP Captain highlighted that XRP looks bullish and might see a breakout before the end of this month. 
<center>
 <blockquote class="twitter-tweet">
 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> Is Bullish We Could See Breakout Anytime Before End Of Month <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/oAi6N3miuW">pic.twitter.com/oAi6N3miuW</a>— XRP CAPTAIN (@UniverseTwenty) <a href="https://twitter.com/UniverseTwenty/status/1799748010634772619?ref_src=twsrc%5Etfw">June 9, 2024</a>
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center> 
Source: X 
<h3 class="wp-block-heading" id="strong-data-reveals-positive-sentiment-among-holders-strong">Data Reveals Positive Sentiment Among Holders</h3> 
Per the Santiment data, despite the weak price action, the weighted sentiment data is sustaining above the midline region reflecting a positive outlook among the holders. <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (XRP), Weighted sentiment (Total) (XRP)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=pepe&amp;pt=PEPE&amp;df=2024-01-30T00%3A00%3A00.000Z&amp;dt=2024-06-07T18%3A29%3A59.909Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Bxrp%3BXRP%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Bxrp%3BXRP%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
Source: Santiment 
Meanwhile, the price volatility data remained flat at around 0.004378 along with a decline in selling volume. 
<h3 class="wp-block-heading" id="strong-futures-oi-data-reval-long-unwinding-data-strong">Futures OI Data Reval Long Unwinding Data&nbsp;</h3> 
The futures data reflects a decline in the new positions. Investors are looking for a clear signal before entering into the long trade. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img loading="lazy" decoding="async" width="1024" height="218" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-105-1024x218.png" alt="XRP" class="wp-image-208262" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-105-1024x218.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-105-300x64.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-105-768x163.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-105-750x159.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-105-1140x242.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-105.png 1439w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div> 
Source: Coinglass 
The open interest data dropped over 1.20% to $532.11 Million displaying a long unwinding data. 
The immediate support levels for XRP are $0.4600 and $0.4300, whereas the key upside hurdle is around $0.5100 followed by $0.5400. 
<h3 class="wp-block-heading" id="strong-conclusion-strong">Conclusion</h3> 
XRP is in a downtrend and hovered close to the demand zone of $0.4500. The price action highlights volatility and that investors are eyeing a significant recovery ahead. 
<h4 class="wp-block-heading">Disclaimer</h4> 
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

XRP Witnessed Underperformance: Could It Slip Below $0.4500 Mark?

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