In the ever-volatile world of cryptocurrencies, XRP is currently navigating choppy waters as it attempts a recovery from recent lows. As of today, XRP is striving to rebound from the $2.70 mark—a critical juncture—and is eyeing the $2.850 resistance level. This development comes as XRP grapples with market dynamics that have also impacted heavyweights like Bitcoin and Ethereum in recent weeks. For more on the broader market impact, see Crypto Liquidations Top $500 Million as Bitcoin, Ethereum and XRP Sink Into the Weekend.
The Push and Pull of Resistance
XRP’s price journey has been a rollercoaster, with recent declines pushing it below the $2.850 and $2.820 thresholds, signaling a bearish trend. Currently hovering below the $2.820 mark and the pivotal 100-hourly Simple Moving Average, XRP faces a crucial test. A bearish trend line with resistance at $2.820 is forming on the hourly chart, setting up a potential battleground for bulls and bears alike.
“XRP’s current price action is a classic case of tug-of-war between resistance and support levels,” says crypto analyst Jamie Lin. “If XRP manages to breach the $2.850 resistance, it could pave the way for a move towards $2.880 and possibly beyond.”
However, the path forward isn’t without its hurdles. If the bulls fail to maintain momentum and clear the $2.850 barrier, XRP could find itself sliding further. Key support levels reside at $2.750 and $2.70, with a breach below these potentially accelerating a decline to $2.650.
Analyzing the Market Dynamics
The recent market correction has not been kind to XRP or its counterparts. After hitting a swing high of $3.040, XRP retraced, testing the waters at $2.7018 before beginning its current recovery attempt. This retracement is part of a broader market pattern where major cryptocurrencies have struggled to regain lost ground. For insights into Ethereum’s position, refer to Ethereum Price Analysis: Critical Juncture Could Define ETH’s Bull Market Status.
“The market is showing signs of fatigue,” notes blockchain expert Laura Chen. “The recent dip below critical support levels has raised eyebrows and created a cautious atmosphere among traders.”
Interestingly, the hourly MACD for XRP/USD is losing pace in the bearish zone, while the RSI has climbed above 50—indicating a potential shift in sentiment. Yet, the market remains on edge, with XRP needing a decisive breakout to reassure investors.
Looking Ahead: Challenges and Opportunities
So, what’s next for XRP? If the bulls succeed in breaking through the $2.850 resistance, the price could surge towards the $2.880 level and even test the $2.920 resistance, aligning with the 61.8% Fib retracement level from the $3.040 high to the $2.701 low. However, if the $2.850 mark remains insurmountable, XRP may face another downturn, with the $2.70 level being a critical line of defense.
“The next few days will be telling,” predicts crypto strategist Sam Rivera. “Investors should keep an eye on the $2.850 resistance and how the market responds. A breakout could ignite a rally, but failure to do so might lead to further downside pressure.”
As XRP navigates these turbulent waters, it raises questions about the broader cryptocurrency market’s resilience. With fluctuating investor confidence and evolving market conditions, XRP’s price action will be closely watched by traders and analysts alike.
In the coming weeks, all eyes will remain on XRP as it attempts to steady its course. The cryptocurrency world is no stranger to unpredictability, and XRP’s journey is a testament to the ever-changing tides that traders must navigate. Can XRP overcome the selling pressure and reclaim higher ground? Only time will tell.
Source
This article is based on: XRP Price Recovery in Focus – Can It Overcome Selling Pressure?
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
