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Ripple’s XRP is currently down by more than two percent and is trading at the $2.41 levels. The altcoin is down by more than seven percent in the last seven days. XRP is still technically within a larger bull market, with no confirmed lower highs or lows on the weekly time frame. Over the last couple of weeks, XRP has experienced a short-term bearish trend within the larger bullish market.
Price Prediction
Currently, XRP is testing the support levels between $2.33 and $2.40. There is potential for a short-term bounce from this range, but if the price fails to hold above these levels, it may drop to the next support area between $2.00 and $2.23.
If XRP manages to hold above $2.40, a break above the $2.62 level could trigger a rally toward $3.00 and possibly test the all-time highs near $3.25.
Support and Resistance Levels
The main resistance zone is between $2.90 and $3.00, which is the level to watch for potential price rejection. On the downside, the first key support lies between $2.33 and $2.40. If XRP drops below this level, the next support is between $2.00 and $2.23.
The upper boundary of the trend channel is also acting as support. A break above this level could lead to a more aggressive breakout, but it will depend on how the price moves in the coming days.
Analyst Weighs In
According to analyst Josh of Crypto World, if XRP closes below $2.40, especially under $2.29, it could signal a drop toward support levels around $1.90. Strong support is found around $2, where previous resistance is now acting as new support. If XRP maintains this support, it could continue its upward movement. He said that XRP is showing possible signs of a reversal but lacks sufficient confirmation for a solid bullish breakout.Â
