XRP's downward spiral continues, with a 10% decline in the past week pointing to a strengthening bearish trend. Buy interest is dwindling, raising concerns of further setbacks for the fourth-largest cryptocurrency by market cap.

The outlook for XRP is grim as selling pressure intensifies, painting a bleak picture for investors. Since hitting a record high of $3.40 on January 16, XRP has been moving within a descending parallel channel, a negative sign indicating a downtrend.

Trading below its 20-day exponential moving average (EMA) at $2.11, XRP is under immense selling pressure. The 20-day EMA highlights short-term trends and, when breached, indicates a bearish phase for the asset. Unless there's a surge in buying interest to push XRP above this key level, the downward momentum is likely to persist.

Additionally, XRP's Chaikin Money Flow (CMF) is on a downward trajectory, inching closer to breaching the zero line. The CMF measures capital flow into or out of an asset, currently standing at 0.02, signaling a shift towards heightened selling dominance and weakening buying pressure.

As XRP faces mounting bearish pressure, there's a looming possibility of a crash to $1.47 if demand fails to pick up. However, a surge in buying activity could propel XRP past the resistance at $2.81, potentially revisiting its all-time high of $3.40. Investors and traders alike are watching closely to see if XRP can turn the tide and reverse its current downward trajectory.