The recent breakout of XRP above a descending trendline did not result in a sustained rally, as the asset's price is now reversing towards $2.40. The lack of buying pressure and inability to close above $2.50 has undermined bullish confidence and made XRP more vulnerable to selling pressure. The larger cryptocurrency market is currently in a derisking phase, causing decreased appetite for risk and impeding the price growth of assets like XRP. XRP faces resistance near $2.60, and a drop in volume indicates traders are reluctant to raise the price without strong catalysts. A crucial support area to monitor is the $2.30 level, and if it breaks, XRP may retest lower supports. The market is uncertain, with the RSI at a neutral level, and further losses may occur if selling pressure persists. However, a recovery from the $2.30 support level could reignite optimism and offer an opportunity for another breakout attempt. The performance of XRP will depend on the overall market state and its ability to attract new buyers, so traders should monitor important support and resistance levels to predict future moves.



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