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XRP’s price recently showed signs of weakening as it failed to hold above the $3.25 resistance zone and is now testing key support levels. After an encouraging rise that pushed XRP above $3.30, the market is now seeing a correction, putting the bulls on the defensive as the price hovers near critical thresholds.
Price Struggles to Maintain Momentum
Earlier, XRP gained momentum and broke through resistance at $3.20 and $3.25, reaching a high near $3.38. However, this upward push was short-lived. The price has since pulled back, slipping below the 100-hour simple moving average and the $3.25 mark, signaling a loss of bullish momentum. A break below the $3.20 support, which coincided with the bottom of a contracting triangle pattern on the hourly chart, added to the bearish sentiment.
The recent dip saw XRP trading below $3.22 and moving closer to the $3.08 support zone, which is considered a key level based on the 61.8% Fibonacci retracement of the previous rise from $2.90 to $3.38.
Support and Resistance Levels to Watch
If XRP manages to hold above $3.08, it could stabilize and attempt another upward move. On the upside, the immediate hurdle lies around $3.22, followed by resistance levels near $3.26, $3.32, and potentially $3.35 in the near term. A break above these points could pave the way toward $3.45, offering bulls some relief.
Conversely, failure to regain and maintain these resistance levels may expose XRP to further downside risks. A drop below $3.08 could lead the price to test the $3.02 support, and if selling pressure continues, it may even fall toward the psychological $3.00 mark, which could serve as a crucial defense point for buyers.
Technical Indicators Signal Bearish Momentum
Technical analysis offers a mixed picture, with momentum indicators tilting toward caution. The hourly MACD (Moving Average Convergence Divergence) has picked up speed within the bearish zone, suggesting downward pressure may intensify. Meanwhile, the Relative Strength Index (RSI) on the hourly chart sits below the 50 level, indicating weakening momentum and potential for further decline.
What This Means for Investors
XRP’s current price behavior suggests that bulls need to regain control quickly to avoid a deeper correction. The key to this will be defending the $3.08 support zone and overcoming resistance near $3.22. Market watchers will closely follow these levels to gauge whether XRP can rebound or if further losses are likely.
This phase of consolidation and testing is common for cryptocurrencies following sharp price moves, as traders reassess positions and the broader market reacts to news and sentiment shifts. Given XRP’s historical volatility, investors should remain cautious and monitor price action carefully before making any decisions.
