XRP's price has been struggling to make a recovery amidst a generally bearish market environment over the past few weeks. Despite these challenges, XRP has managed to stay above $2.

This resilience is mainly attributed to long-term holders (LTHs) who are determined to prevent the price from dropping below this crucial threshold.

The Liveliness metric, which monitors transaction frequency, has shown a consistent decrease since February, indicating that fewer XRP tokens are being traded as long-term holders acquire more XRP at discounted prices, demonstrating their confidence in its potential for long-term growth. However, while LTH accumulation is promising, market sentiment remains mixed due to the prevailing bearish conditions.

Regarding technical analysis, the Relative Strength Index (RSI) for XRP has been consistently bearish for the last couple of months. Although occasionally surpassing the neutral line, it has predominantly remained below it, reflecting a lack of bullish momentum. This ongoing bearish trend has undermined the efforts of long-term holders to drive the price upwards.

The failure of the RSI to sustain upward momentum suggests that XRP is still encountering difficulties in gaining momentum, compounded by the overall subdued sentiment in the market.

XRP's current trading price is $2.08, maintaining above the $2.02 support level, indicating some stability despite recent fluctuations. The backing from long-term holders seems to be preventing a further decline.

Nonetheless, the mixed signals from technical indicators and market sentiment imply that XRP is likely to remain around the $2.16 resistance level until stronger bullish signals emerge. This sideways price movement may continue, leaving investors uncertain about future market dynamics.

Should XRP be unable to uphold the $2.02 support level, it could potentially drop to $1.94 or even lower to $1.79, invalidating the current positive outlook and possibly extending losses for investors, indicating further market weaknesses.