XRP experienced a 4.29% decline, trading at $2.2537, with resistance at $2.30. Key support and resistance levels will determine the next price move.
Current XRP Price Action
In the current session, XRP posted a 4.29% decline, settling at $2.2537. Resistance was faced at $2.30, leading to increased selling pressure. Now XRP approaches key support at $2.13, aligning with the 0.618 Fibonacci retracement, a crucial area for determining the next move.
Key Support and Resistance Levels
Key support levels for XRP are at $2.13, $2.00 and $1.80. Resistance levels are set at $2.31, $2.50, and $3.00. If the $2.13 level fails, further decline to $2.00 is possible, with $1.80 to follow if bearish momentum prevails.
Potential Price Scenarios
A break below $2.13 could increase selling pressure, potentially driving XRP towards $2.00. If sellers remain strong, $1.80 could become the next major support. Sustained weaknesses might result in further declines down to $1.60 in an extreme bearish scenario. If buyers defend the $2.13 level, XRP might rebound to $2.31. A breakout above $2.50 could attract bullish sentiment, driving the price towards $3.00, a key resistance level gathering interest from buyers. A sustained rally above $3.00 might shift sentiment toward a stronger bullish trend.
XRP is at a critical point, with $2.13 serving as the pivotal level to monitor. Holding above could ignite a recovery, while breaking below might lead to further losses. Traders should remain cautious, closely observe price action, and prepare for potential volatility.
