Ripple‘s cryptocurrency, XRP, has seen a decline of more than 2% in the past day, now trading at $2.64. This drop comes as the cryptocurrency market faces ongoing uncertainty, and XRP is confronting significant resistance within the $2.65 to $2.80 range. Its recent struggles have been compounded by stagnant performances in Bitcoin and Ethereum, which have not managed to gain upward traction.
What Are XRP’s Critical Support Levels?
If XRP’s value continues its downward trend, the $2.50 mark is identified as a crucial support level. Analysts suggest that if this price is breached, new support could emerge between $2.25 and $2.30, where XRP may find stability against increasing selling pressure.
Could XRP Surpass $2.80 and Climb Higher?
In the event XRP breaks beyond the $2.80 threshold, the next target would be the $3 mark, which poses another significant resistance. Should it surpass this point, predictions indicate a potential rise to $3.20. Technical indicators hint that an upward trend could gain momentum if XRP manages to overcome this resistance.
Key takeaways from XRP’s current market situation include:
- XRP’s price has dropped below $2.65, facing strong resistance.
- Critical support is observed at $2.50, with lower levels at $2.25 to $2.30.
- If XRP exceeds $2.80, it may aim for $3 and potentially $3.20.
- A bullish divergence is visible on the two-hour chart, suggesting a possible recovery.
With the current bearish pressure, the cryptocurrency community is urged to watch these key levels closely. The dynamics of XRP’s price movement will be critical in determining its next steps in the volatile crypto landscape.
