XRP Holds Above $2.80 Amid Renewed Pressure from Sellers
XRP (XRP/USDT) is trading around $2.96, pulling back after failing to break higher resistance levels. The token has now returned to test the critical support zone near $2.80–$2.85, an area that has previously provided stability during volatile sessions.
The chart highlights how XRP experienced a sharp rally in late July, breaking out of a prolonged downward channel. However, after hitting highs above $3.70, the token struggled to sustain momentum and faced repeated rejections in the $3.40–$3.70 supply zone. The recent dip suggests that buyers are once again tasked with defending lower price levels to prevent further downside.
“XRP is consolidating within a well-defined range, but the $2.80 support remains the most important level to watch. A decisive breakdown below it could trigger deeper losses, while holding above may set up another recovery attempt,” According to BITX analysts.
Technical Overview
- Immediate support: $2.80–$2.85
- Nearest resistance: $3.15–$3.25
- Major supply zone: $3.40–$3.70
- Market volume: Neutral, showing no breakout confirmation yet
The green demand zone around $2.80 has historically acted as a strong foundation for rebounds. Meanwhile, the $3.15–$3.25 zone is acting as an intermediate resistance, capping short-term rallies.
Market experts emphasize that XRP’s ability to hold above $2.80 will be crucial for its mid-term trajectory. If buyers manage to defend this area, the token could attempt another push toward the $3.15 resistance, with potential to re-test the upper $3.40–$3.70 range if momentum builds.
“Traders should closely monitor XRP’s reaction around $2.80. This level is not only technical support but also a psychological threshold that could determine whether XRP reclaims bullish sentiment or extends its correction,” BITX strategist explained.
In the near term, XRP’s movement will depend on whether buying interest strengthens at the support zone. A rebound could restore optimism, while a breakdown risks sending the token back toward $2.50 levels.
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.