The XRPUSD pair is currently in a strong downtrend, having broken below a significant support level at approximately $1.80. The speaker suggests that while the immediate outlook is bearish, there is a potential for a bounce to the $2.70-$3.00 resistance zone. The RSI and MACD indicators are showing bearish momentum, but the speaker is also looking for potential bullish divergences and a possible retest of the $1.30 support level. A break above $2.00 would be a strong bullish signal, invalidating the current bearish trend.