- XRP price is experiencing a strong resistance at $2.87, failing to break out and stuck in a tight trading range.
- XRP Price has fallen below $2.87 several times, the next support point is now at $2.82, as the market continues to be under pressure.
- XRP price is still grappling with the upwards trend, it has repeatedly rejected $2.87 resistance point.
XRP price has been experiencing significant pressure during the recent trading sessions, with XRP price failing to remain above $2.87. The price had attempted to break out several times. With XRP facing resistance and rising selling pressure, subsequent support lines are turning into the center of attention in the market.
XRP Price Faces Strong Resistance at $2.87
XRP price has been testing the resistance of $2.87 severally but has not succeeded in breaking the resistance. The latest attempt was an initial increase to $2.8927, but the price soon went back down. This has made XRP price remain in a narrow band, where it cannot move substantially upwards. According to Analyst Ali Charts , failure to break the $2.87 level is a sign that the sellers are in control and more downside action is probable unless a sharp reversal occurs.
The fact that it could not remain above $2.87 shows the amount of power that sellers have in the market. Each failed test in this resistance, the bearish sentiment grows stronger. XRP price has fallen below the price of $2.87 severally, which proves the difficulty in pushing it higher and raises fears of a possible fall.
In case XRP price breaks lower than $2.82, the focus will be on the price of $2.80 which may serve as an important support area. Inability to maintain this level would then result in even lower levels and there will be a close observation by traders on the evidence of further weakness in the next few days.
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