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XRP is showing renewed weakness after losing its grip on the $3.00 mark, as selling pressure builds across the crypto market. The token has now slipped below the $2.90 zone, raising concerns that a deeper correction could be on the horizon if key support levels fail to hold.
XRP Turns Bearish Below $2.90
Following a short-lived recovery attempt earlier this week, XRP’s price dropped below $2.95 and $2.92, entering a fresh bearish phase similar to recent trends in Bitcoin and Ethereum. The decline pushed XRP toward the $2.83 level, where it briefly stabilized before struggling to reclaim momentum.
Data from Kraken shows that XRP is now trading below the 100-hourly Simple Moving Average, reinforcing the bearish outlook in the short term. A key trend line resistance has formed near $2.88, which continues to limit upside attempts.
Currently, XRP is consolidating just above $2.82, a level viewed as critical short-term support. Failure to hold this zone could set off a sharper decline toward deeper support levels.
Resistance Levels to Watch
If buyers manage to regain control, XRP could attempt another recovery from its current levels. The first immediate resistance lies near $2.88, aligning with the trend line on the hourly chart.
A stronger resistance zone has formed around $2.92, which has repeatedly capped recovery attempts. A clear breakout above this point could open the door for a move toward $2.95, followed by the key psychological barrier at $3.00.
Beyond that, the $3.05 level represents a major hurdle. It also coincides with the 76.4% Fibonacci retracement level from the previous downswing between $3.05 (high) and $2.83 (low). A decisive close above this area could flip the short-term trend in favor of the bulls.
Potential for Further Losses
However, if XRP fails to clear the $2.92 resistance, the bearish scenario could extend. The first support to monitor lies at $2.82, followed by a stronger floor around $2.80.
A break and close below $2.80 would likely trigger another leg down, exposing XRP to the $2.72 region — an area where buyers previously stepped in during late September. Should that fail to hold, analysts warn the next significant support sits near $2.65, potentially marking the next bearish target.
Market Context and Sentiment
The current dip in XRP’s value mirrors broader market caution as traders await fresh macroeconomic signals and updates from the ongoing Ripple vs. SEC case. Despite occasional bursts of optimism, many investors remain cautious, citing uncertainty in both regulatory and technical factors.
Market analyst Aayush Jindal noted that XRP’s inability to maintain its recent highs above $3.00 is weighing heavily on sentiment. “The price is now struggling to sustain upward momentum,” he said. “If the $2.82 support gives way, the downside momentum could accelerate quickly.”
On the flip side, some traders remain optimistic about XRP’s longer-term prospects, arguing that the current dip could offer accumulation opportunities if broader market sentiment improves. Historically, XRP has seen sharp rebounds after consolidating near key support zones.
Outlook for Traders
In the short term, XRP appears locked in a narrow consolidation zone between $2.80 and $2.92, awaiting a breakout in either direction. Traders should watch for confirmation of a close above resistance or below support to determine the next trend.
If buyers reclaim $2.92 and push above $2.95, momentum could shift back toward $3.00 and beyond. However, a sustained drop below $2.80 would likely invite further selling pressure, extending the decline toward $2.72 and $2.65.
