XRP is under pressure in the market as it tests a key resistance zone at $2.80 - $2.90. Traders are currently monitoring price dynamics closely.
State of XRP in the Market
XRP is facing a critical moment, testing a strong resistance zone between $2.80 and $2.90. This area, known as a supply zone, has historically served as a barrier to upward movement. Traders are watching closely to see if XRP can break through this resistance or face rejection, potentially leading to a deeper correction.
Risk of Price Drop to $2.50
The technical pattern forming on XRP's 4-hour chart signals increased selling pressure. If XRP fails to break this resistance, a drop towards the $2.50 support level is anticipated. This level has previously held as a strong base, making it a key point for bulls to defend.
What to Expect Next
The $2.80–$2.90 range will likely determine XRP's short-term direction. A clear breakout above this level, backed by volume, could invalidate the bearish thesis. However, if rejection occurs, XRP could revisit the $2.50 support, providing potential buying opportunities for patient traders.
Given the current state of XRP, monitoring the next price movements and volume dynamics will be crucial in anticipating future changes in quotes.
