Will the listing of XRP on these major exchanges act as a catalyst for the upcoming Bull Run?

XRP price, which fell nearly 10% last week, started the week trading on a bearish note, indicating the possibility of a new dump in the coming days. After breaking below the important 200-day MA level, the bulls lost momentum, causing a sharp decline and breaking an important support level. Along with this, a bearish EMA crossover could also be achieved soon, confirming the dominance of bearish momentum and increasing the risk of a continued downside.

Now, if the bulls continue to cool off, is there a chance that the price of XRP will fall below $0.50?

A few days ago, there was a huge influx of negative sentiment towards XRP after the popular exchange blocked $15 billion worth of XRP transfers. This made traders even more fearful, which caused levels to drop significantly. Moreover, the token’s performance has remained moderate since 2024 and RSI has also remained low, meaning the upside potential for FUD remains high.

As you can see in the chart above, XRP price is trying hard to trigger a bounce from the important support it had previously had. However, since it is a technical issue, the possibility seems extremely low. As mentioned earlier, the bearish MA crossover coincides with a decline in RSI (35.33). Declining volume amid a stunning technical setup is a sign of a lack of confidence that has failed to attract new buying interest.

Regardless of the bearish market signals, if XRPArmy remains bullish, a break above the strong resistance at $0.6 could derail the bearish scenario to some extent. However, a break above the resistance line of the descending triangle could trigger a new uptrend. However, the bullish scenario remains evident for now as the price of XRP is likely to see a continued bearish trend. In this case, the support level is $0.42 and should be watched closely over the next few days.