- XRP price trades with support at $2.85- $2.90, and the resistance is put at the $3.00 mark despite enduring weeks of bearish pressure.
- XRP Price is fighting with the resistance of $3.00, and the $2.85-$2.90 support area has given it temporary stability.
- XRP price is trading at a critical price action zone at the resistance zone of $3.00 and may break out or consolidate further at the support level of $2.85.
XRP price has experienced a significant price decline over the past few weeks, and the drop is now experiencing a technical test. As consolidation has now moved towards the levels of key support, attention now turns to whether or not it can break out of the $3.00 resistance and begin a new upward movement.
XRP Price Faces Key Resistance at $3.00 After Consolidating at Support Levels.
XRP price has stabilized following the sell-offs around the $3.50 level, with prices holding firm around the region of $2.85-$2.90. Analyst Ali Charts points out that, currently, the main question is whether or not XRP price can break the resistance of $3.00 which has been struggling so much that it has been difficult to price past the resistance of $3.10-$3.15. A positive breakout over the $3.00 mark can set the stage, targeting a level of either $3.50 or $3.75.
Source: Ali Chart/X
However, the general tone of the market is still bearish and the resistance level of $3.00 may be breached, which can result in further range-bound trading. These levels of support are at $2.85,$2.75, $2.60 and there is more downside risk. A breach of the $3.00 major resistance will be instrumental in the next direction of XRP.
Analyst Steph says Crypto finds volume to be the key in addressing whether the price of XRP will be able to breach the resistance at the level of $3.00. Although selling pressure is less, then any upward move must be accompanied by a rise in volume. Without it, a breakout can get away and the price might jump back immediately toward the support area.
Source: STEPH IS CRYPTO/X
These few days are critical. In case XRP price has a good support at $2.85 levels and it witnesses a good buy, then there could be a breakout beyond $3.00. A fall below $2.85 could indicate a decline towards $2.70 or 2.60. Its reaction to these levels will determine how it will act next.
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