XRP has been under pressure in recent days, struggling to maintain its upward momentum. After a recent rally that took the price from a low of around $2.10 to a high of $2.80, XRP now faces challenges as it moves through a corrective phase. As of February 10, the cryptocurrency is trading at $2.39, down by more than 3% from its previous highs. The range-bound market conditions are creating uncertainty, and XRP’s immediate price direction largely depends on its ability to break through critical resistance levels and hold key support zones.

Resistance Levels: $2.51 – $2.72

The primary resistance zone for XRP currently lies between $2.51 and $2.72. This range represents the 50% to 88.7% Fibonacci retracement levels, which have acted as formidable barriers to further price increases. For XRP to regain bullish momentum, it needs to break above this resistance zone. However, recent price action suggests that the bears have the upper hand, with the price facing strong selling pressure at these levels.

The correction from $2.80 suggests that XRP may be encountering resistance from sellers who are looking to lock in profits after the previous rally. Until the bulls can push past the $2.51-$2.72 range, it seems unlikely that XRP will be able to sustain higher price levels.

Bearish Control: Short-Term Correction Phase

As of now, the market sentiment remains tilted toward the bears, as they seem to be in control of the price action. After hitting $2.80, XRP began to correct and move lower, indicating that the upward rally may not be sustainable at the moment. While this corrective phase is common after significant price increases, it has also led to increased selling pressure from traders taking profits.

This trend is further confirmed by the recent bounce from the 50% Fibonacci retracement level, which appears to be corrective in nature. Until XRP decisively breaks above $2.72, the corrective phase is likely to continue, keeping the price within a narrow range. A failure to break above this resistance could lead to a deeper pullback, potentially testing lower support levels.

Support Zones: Key Levels to Watch

XRP has established several important support levels during its corrective phase. One of the key support zones is at $2.11, which has held strong over the past few days. The price has bounced from this level multiple times, signaling that there is buying interest at these lower prices. If the price continues to hold above this support, it could indicate that a potential reversal is in the cards once the selling pressure eases.

However, if XRP fails to maintain this support, the next major level to watch is around $1.95. A break below $2.11 could trigger further selling, leading to a retest of $1.95. This would mark a deeper correction before the market considers another rally attempt.

Potential for a Breakout: What’s Next for XRP?

Although the market is currently in a corrective phase, there is still potential for a breakout. For the bulls to regain control, they will need to push XRP above the $2.72 resistance level and maintain upward momentum. If this happens, XRP could see a rise toward the next resistance zone around $2.80 or even higher. Such a breakout would mark the end of the current correction and open the door for a fresh rally.

On the other hand, if the current trend continues and XRP fails to break resistance, the price could remain range-bound between $2.11 and $2.72. Should this range persist, it could lead to further consolidation, with XRP potentially finding new support at lower levels, such as $1.95.

Conclusion: Range-Bound Market and Uncertainty

The near-term outlook for XRP is characterized by uncertainty. The cryptocurrency is stuck within a defined range, with support at $2.11 and resistance at $2.72. While the market has not yet shown a strong breakout, a shift in momentum could occur soon. Traders and investors will need to monitor these key levels closely to gauge XRP’s next big move. A breakout above $2.80 could signal the end of the corrective phase and the start of a new rally, while a failure to break resistance could lead to a deeper retracement.