XRP Market Analysis: Critical Price Levels Under Pressure
XRP has entered a crucial phase as the digital asset attempts to recover from a sharp decline that saw prices tumble below multiple support levels. The cryptocurrency, which recently failed to maintain momentum above $2.62, is now facing a make-or-break moment at the $2.45 resistance level, coinciding with a broader market correction that has also impacted Bitcoin’s dramatic fall below $90K.
Technical Breakdown: Key Support and Resistance Levels
The current price action shows XRP trading in a precarious position:
- Current Trading Range: Below $2.40 and the 100-hourly SMA
- Critical Support Levels: $2.2320 and $2.20
- Key Resistance Zones: $2.40 and $2.450
- Recent Low: $2.0639
Market Indicators Signal Mixed Sentiment
Technical indicators are showing conflicting signals for XRP’s short-term trajectory:
- The MACD has entered the bullish zone, suggesting potential upward momentum
- RSI readings above 50 indicate moderate buying pressure
- A bearish trend line remains active at $2.450
Recovery Scenarios and Risk Analysis
For XRP to establish a meaningful recovery, several key levels must be reclaimed:
- Immediate Target: $2.450 resistance breakthrough
- Secondary Target: $2.50 psychological level
- Bullish Scenario: Push toward $2.5650
- Ultimate Resistance: $2.620
Downside Risks and Support Zones
If the current recovery attempt fails, XRP could face increased selling pressure:
- Initial Support: $2.2320
- Critical Support: $2.20
- Danger Zone: Below $2.120
- Last Line of Defense: $2.050
Expert Analysis and Market Outlook
Market analysts suggest that XRP’s current price action is closely tied to the broader crypto market sentiment. The asset’s ability to hold above $2.20 will be crucial for maintaining bullish momentum in the short term. Traders should watch for a decisive break above $2.450 as confirmation of trend reversal.
Source: NewsBTC