Ripple’s $XRP has entered the red zone, declining by more than 2%. Over the past few days, XRP has been trading in a range between $2.12 and $2.70, with minimal movement on higher time frames. A recent pullback has invalidated a previously bullish breakout pattern, raising concerns about the token's near-term momentum.
Market Overview
Despite the pullback, XRP remains within a potential bullish structure. Strong resistance exists between $2.90 and $3, a level that has historically seen significant selling pressure. On the downside, support is holding around $2, which has been tested multiple times and acts as the lower boundary of XRP’s current trading range. A break below $2 could signal further bearish movement.
Key Support and Resistance Levels
Immediate Support: $2.30–$2.31
Lower Support Levels: $2.23 and $2
Immediate Resistance: $2.60
Major Resistance Zone: $2.90–$3
A breakout was initially confirmed around $2.35 but quickly invalidated as XRP closed below this level, suggesting that upside momentum may remain limited in the short term.
If the price fails to hold above $2.30, the next support lies at $2.23, with further downside likely toward the $2 level. If XRP breaches $2, it may drop further to $1.90. At this level, the market’s direction hinges on whether XRP can maintain support. A break below $1.90 would confirm a bearish phase and end the bullish trend.
Potential Upside Scenarios
If XRP manages to hold support at $2.30, it could rebound to test $2.60. A breakout above $2.60 would pave the way for a move toward $3, a
key resistance level.
Conclusion
XRP's near-term price action will depend on whether it can sustain support at $2.30. A break below this level could lead to a more bearish outlook, while holding above it would keep hopes alive for a recovery. Traders should watch key levels closely, as $2 and $1.90 are critical for preventing further downside. On the upside, $2.60 and $3 remain crucial targets for any potential bullish move.
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