XRP has once again failed to break through the critical $2.35 resistance level. Currently trading at $2.2810, the cryptocurrency attempted a breakout yesterday but faced a sharp rejection, pulling back from $2.3777 to $2.2742—a 1.71% decline. This reversal highlights strong selling pressure at higher levels. However, buyers defended the $2.27 support zone, preventing further losses.
Repeated resistance rejections make a level harder to surpass as sellers continue to dominate. For XRP to break through, buyers need to build significant momentum.
Despite the setback, buyers are regrouping for another push. If they gain enough strength, XRP could retest the $2.35 resistance. A successful breakout could propel the price toward $2.42, with strong bullish momentum potentially extending gains to $2.59.
Breaking above $2.59 could signal a prolonged uptrend, attracting more investors. Broader market trends and Bitcoin’s performance will also influence XRP’s movement.
If buyers lose momentum, sellers may take control, pushing XRP toward the $2.15 support level. A failure to hold this level could lead to a drop to $2.08, reinforcing a bearish outlook. Traders should watch for declining volume and increased selling pressure as potential warning signs.
XRP stands at a crucial turning point. A breakout above $2.35 could trigger a strong rally, while failure might result in further declines. Market participants should closely monitor price action and trading volume to anticipate the next major move.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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