XRP continues to grapple with key resistance levels, remaining within a narrow price range. We analyze current price dynamics and growth prospects.
Support Levels and Market Behavior
Currently, XRP is bouncing between support and resistance. According to analyst Josh of Crypto World, the first support level is around $2.50, with further support between $2.25 and $2.30. This indicates a range-bound movement, lacking a decisive trend in either direction. Attempts at bullish moves stall at resistance, while bearish moves do not gather enough strength to lower the price.
Potential Bullish Breakout and Future Resistance
Should XRP manage to break above the $2.80 resistance level and close a daily candle above it, this could signal the start of a bullish rally, potentially driving the price up to $3. However, around the $3 mark, XRP is likely to encounter fresh resistance. A confirmed breakout above $2.80 is currently required to push the price higher.
Outlook for XRP in the Short Term
In the near term, XRP's price action is expected to remain relatively uneventful, with a lack of momentum likely leading to continued sideways movement. Short-term traders may see lackluster price action until a breakout or breakdown occurs.
XRP remains within a narrow range, facing resistance pressure. Until a breakout occurs, the market lacks clear direction.
