In recent weeks, XRP has seen a consistent increase in its price, although it is struggling to overcome a crucial resistance level. Investor confidence appears to be uncertain despite the upward trend.

A significant barrier has hindered XRP from breaking through, and there is a mixed sentiment in the market as some investors are taking profits. The past week witnessed a notable sell-off of XRP, resulting in record profits since March. Approximately $470 million worth of XRP was sold within a day, reflecting a similar pattern seen earlier in March following a minor price surge.

The behavior of large XRP holders indicates uncertainty in their support for the price, which complicates XRP's efforts to sustain its recent gains and contributes to a negative sentiment surrounding its recovery.

Despite showing signs of improvement recently, XRP is now confronted with a major obstacle: a downtrend line persisting for four months. Previous attempts to break this downtrend have failed, and XRP's price struggles to surpass this critical resistance level. While there is hope for a revival in XRP's price, the challenge of breaking the downtrend remains formidable.

Presently, XRP is traded at $2.37, with difficulty in securing $2.38 as a support level. The recent selling pressures and lack of strong support indicate a potential drop below the $2.27 support level, possibly reaching $2.12. Should selling persist, the uptrend could be invalidated, leading to further declines.

Nonetheless, there is a prospect of optimism if Bitcoin establishes a new all-time high (ATH), as it could trigger a broader market upsurge that might benefit XRP. In such a scenario, targeting $2.56 as a support level for XRP could invalidate the bearish outlook and potentially drive the price higher.