XRP price is facing a critical resistance level at $3.221 and may encounter pressure if it fails to break through.
Key Resistance Level for XRP
Market analyst Nebraskangooner identifies the $3.221 level as a critical resistance that XRP must break to maintain upward momentum. This level was previously a reversal point, leading to selling pressure driven by the 1.337 Fibonacci extension resistance. Since then, the XRP price dropped to $3, but analysts expect it to rebound with an aim to break the $3.221 level.
Possible Drop to $1.9622: Predictions
If XRP fails to reclaim the key resistance level, analysts predict bearish momentum could accelerate. Market data suggests that if sellers regain control, the token might decline to $1.9622. This level represents a major support zone that could determine the cryptocurrency's long-term trajectory. In the past 24 hours, leveraged trades worth $11 million have been liquidated, exerting market pressure.
$3 Support Zone Accumulation
Despite significant fluctuations, XRP price remains relatively stable above $3, which serves as a support level. Analysis shows that large investors continue buying the asset whenever XRP approaches this zone. This helps support short-term demand for the asset, potentially offsetting the sellers' supply. If the $3 support continues, it may prevent further declines.
Currently, the XRP price stands at $3.14, with analysts maintaining an optimistic outlook as bulls preserve the $3 support level.
