Traders Eye $2.49 Support Level Amid Market Uncertainty
XRP (Ripple) is struggling to gain upside momentum this week, trading around $2.40 after another failed attempt to reclaim the $2.55 resistance zone. The repeated rejections from this level have reinforced a neutral technical setup, with traders closely monitoring the lower boundary of support near $2.49 for potential directional cues.
The latest daily chart shows consolidation between $2.30 and $2.60, with a lack of strong bullish follow-through despite improving broader sentiment in the crypto market. The green support band around $2.30–$2.50 has been tested multiple times over the past month, indicating a high level of buying interest. However, sustained closes below $2.49 could open the door to further declines toward $2.20, where long-term support lies.
“We’re seeing a clear balance of power between buyers and sellers in this range,” explained BitXJournal market analysts. “A daily close above $2.60 would shift momentum back to the bulls, while a break below $2.49 could trigger a sharper retracement.”
From a broader perspective, XRP remains above its long-term uptrend line, but momentum indicators are flattening, suggesting indecision among traders. Volume data also shows a gradual decline compared to early October, hinting that market participants are waiting for confirmation of a breakout.
“Until XRP clears $2.80 or loses $2.30 support decisively, the token is likely to remain range-bound,” added a BitXJournal senior technical researcher. “This period of compression could set the stage for a significant move once volatility returns.”
In summary, XRP’s chart structure is neutral but fragile, with $2.55 resistance and $2.49 support acting as the key zones to watch. Traders anticipate that the next breakout from this range will determine whether XRP resumes its uptrend or slides into deeper correction territory.
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.