XRP (spot on Bitget) is trading at $1.8885, down 1.59% over the past 24 hours, with $31.7M in USDT volume. Market sentiment remains cautious, with the Fear & Greed Index at 25 (Fear). Over the last ten days, XRP has cooled off from its mid-January peak near $2.16, sliding back into the $1.88–$2.10 range.

📉 RECENT PRICE ACTION: FROM RALLY TO RETRACEMENT

After a strong push into the mid-$2s earlier in January, XRP has entered a visible corrective phase. Daily candles from Jan 15 to Jan 24 show a step-by-step decline, with lower highs and lower closes, accompanied by noticeable volume spikes between Jan 19–22. This volume behavior suggests distribution rather than a shallow pullback, signaling increased selling pressure from larger participants.

Technically, short-term indicators reflect this weakness:

EMA5 sits below EMA10 and EMA20, reinforcing a bearish short-term trend.

MACD remains negative, showing downside momentum is still present.

RSI(6) around 27–28 places XRP in oversold territory, which can support a bounce — but not a trend reversal on its own.

Overall, XRP is weakening in the short term while still holding within a broader consolidation structure.

⏱️ INTRADAY STRUCTURE: OVERSOLD BUT UNCONVINCING

On lower timeframes (15-minute charts), momentum indicators are oversold to neutral. Price is hovering near the lower Bollinger Band, and RSI readings suggest sellers may be losing steam temporarily. However, the order book shows balanced liquidity around the $1.88–$1.90 zone, with large bids and asks on both sides — a sign of range-bound indecision, not aggressive accumulation.

💧 VOLUME & FLOWS: WHY CONVICTION IS LOW

Flow data points to net outflows from large orders, with whales selling more than retail buyers are absorbing. Reported declines in daily trading volume (over 50% day-on-day in some feeds) reinforce the idea that market participants are cautious. This drop in activity increases the risk of sharp moves once liquidity returns in either direction.