XRP (XRP/USDT) has failed to sustain its upward breakout attempt, retreating from the $2.92–$2.93 resistance zone after a short-lived rally. The token fell nearly 3% intraday, currently hovering around $2.79, as sellers reassert control near the local supply zone visible on the daily chart.
The rejection at $2.93 coincides with a broader slowdown in market liquidity as macro headwinds and declining risk appetite pressure altcoin performance. The chart shows clear rejection wicks at the upper resistance, signaling aggressive profit-taking from short-term traders.
Technically, XRP’s structure now shows a defined range between $2.85 and $3.35, with the lower end acting as immediate support. The green demand zone around $2.80–$2.85 has historically acted as a strong accumulation region — but a decisive breakdown could open the door to a retest of $2.60.
BITX senior crypto analyst commented that “XRP’s failure to hold above $2.93 suggests the market lacks conviction. Buyers are stepping back, waiting for confirmation of strength near $2.85 before reentering.”
Volume data also points to weakening participation, suggesting that the recent breakout attempt lacked strong follow-through.
The rejection at resistance mirrors similar patterns seen in other large-cap altcoins as traders shift to defensive positioning ahead of key macroeconomic data releases. Analysts note that sentiment remains neutral-to-bearish in the short term, especially as the broader crypto market consolidates.
BITX analyst explained that “XRP’s upside remains capped unless bulls reclaim $2.95 on strong volume. Until then, the asset risks extended consolidation.”
XRP is now testing a crucial support zone between $2.80 and $2.85, which could determine its next directional move. A rebound from this area may spark a recovery toward $3.00, while a break below $2.80 could signal further downside.
The $2.85 floor remains pivotal — holding above it could keep XRP within its broader bullish structure, but failure to defend it may invite deeper correction pressure.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.