XRP has entered a downtrend channel after failing to break the $2.4 resistance level, according to CoinDesk analysis. This bearish pattern was confirmed on the 4-hour chart after the break of the $2.28 support. The Relative Strength Index (RSI) indicates oversold conditions, suggesting potential for a short-term bounce. The Moving Average Convergence Divergence (MACD) has also formed a bearish dead cross, reinforcing the downtrend signal. The critical level to watch is the $2.2 support. If XRP holds above this level, a rebound and a subsequent attempt to breach the $2.4 resistance becomes probable. Conversely, a sustained break below $2.2 could lead to further declines. Traders should monitor price action closely around this key support zone. ```