Altcoins News
By Evie Vavasseur
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XRP Turns Bearish Below $2.90. Following a short-lived recovery attempt earlier this week, XRP’s price dropped below $2.95 and $2.
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Resistance Levels to Watch. If buyers manage to regain control, XRP could attempt another recovery from its current levels.
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Potential for Further Losses. However, if XRP fails to clear the $2.92 resistance, the bearish scenario could extend.
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Market Context and Sentiment. The current dip in XRP’s value mirrors broader market caution as traders await fresh macroeconomic…
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Outlook for Traders. In the short term, XRP appears locked in a narrow consolidation zone between $2.80 and $2.
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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.
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Data from Kraken shows that XRP is now trading below the 100-hourly Simple Moving Average, reinforcing the bearish outlook in the short term.
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Currently, XRP is consolidating just above $2.82, a level viewed as critical short-term support.
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If buyers manage to regain control, XRP could attempt another recovery from its current levels. The first immediate resistance lies near $2.
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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.
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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.
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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.
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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.
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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.
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Market analyst Aayush Jindal noted that XRP’s inability to maintain its recent highs above $3.00 is weighing heavily on sentiment.
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