XRP’s price action has remained fairly quiet in recent days, but there are some important levels and scenarios that could come into play. The market is currently at a critical point, and how XRP behaves around these key support and resistance levels could shape it’s next move.
Approaching a Key Support Level
On the daily time frame, XRP is getting very close to breaking below an important support zone between $2.30 and $2.34. If the price closes a daily candle under $2.30, it could open the door for a further drop, falling back toward the $2.10–$2.15 range.
Despite this risk, the overall daily price structure for XRP remains bullish. The market has continued forming higher lows and higher highs, which is typically a healthy sign during an uptrend. However, temporary pullbacks and sideways moves are common even in bullish trends.
On the upside, a clear break above the $2.48–$2.61 resistance range is needed to confirm a meaningful bullish breakout and signal the start of a larger move higher. At the time of writing, XRP is trading at $2.40 and is up by more than 1% in the last 24 hours.
Short-Term Struggles Continue
XRP is still under the influence of a bearish divergence. As a result, XRP is struggling to move higher and remains stuck within a range. The market has yet to see a clear breakout in either direction..
Right now, XRP’s price is caught between support and resistance. Both bullish and bearish possibilities remain on the table. A small bounce into the resistance zone is possible in the short term, but unless the price breaks through those upper levels, the overall market picture won’t change much.
It’s also important to keep an eye on Bitcoin’s price action since it continues to influence the broader altcoin market, including XRP. However, Bitcoin has crossed above $110k level and it remains to be seen if altcoins will also rally.
Short-Term Outlook
At the moment, both potential scenarios for XRP remain valid:
- In the bullish case, XRP might see a short-term rally into resistance, followed by a brief correction, and then continue higher.
- In the alternative, XRP could start a direct rally from current support levels if buyers step in.
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