At present, XRP is demonstrating bearish momentum, jeopardizing the goal of reaching $3. Current indicators suggest further declines.
Current XRP Price and Market Conditions
XRP, which recently showed a brief surge, is now trading at $2.184. This is a significant drop from previous highs, which could not be sustained. Sellers have taken control, leading to a breach of key support levels and leaving buyers with limited recovery opportunities.
Key Resistance Zones
The resistance zone at $2.95 to $3.00 remains unbreached. Despite attempts to regain higher levels, XRP has struggled to break through these critical resistance areas. To climb back to the $3 range, a substantial surge in buying volume is needed, which is notably absent.
Market Indicators and Downside Risks
Technical indicators, including the 50-day exponential moving average (EMA), are showing signs of flattening and even curling downward. XRP is currently holding support at the 100-day EMA around $2.77, but the next support level lies at $2.51 near the 200-day EMA. If this level fails to hold, XRP could face deeper corrections, further diminishing its chances for a swift rebound.
Given the current bearish momentum and dwindling buyer interest, XRP faces significant risks and potential for further decline.
