- XRP struggles below $3.03 resistance, RSI signals potential downturn.
- Analyst warns XRP could drop to $2.28 support soon.
- Break above $3.03 crucial for bullish XRP momentum recovery.
According to Guy on the Earth on X, XRP’s struggle to break through the $3.03 resistance is raising concerns. The analyst points out that XRP has failed once again to surpass this key level, signaling potential issues with the cryptocurrency’s momentum. This development has left many traders wondering if a pullback is imminent.
Weakening Momentum on RSI Signals Concern
In his post, Guy on the Earth highlights that the Relative Strength Index (RSI) has shown signs of losing momentum, now sitting around its average. This suggests that XRP’s bullish strength may be fading, which increases the likelihood of a pullback. The analyst also notes that if the resistance at $3.03 continues to hold, XRP may drop toward the $2.28 support zone.
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The trendline forming beneath the current price action remains a point of interest, as it could act as a support level. However, if XRP fails to maintain its position above this trendline, further declines could follow.
Possible Path Forward: Support and Resistance Levels in Focus
The focus for XRP remains squarely on the $3.03 resistance. According to the analysis, a breakout above this level with confirmation across multiple timeframes (daily, 3-day, and weekly) would significantly increase the chances of a bullish continuation. However, without this breakthrough, XRP may struggle to maintain upward momentum.
Should the price fail to break through $3.03 and instead approach the $2.28 support, a bearish scenario becomes more likely. This support level is crucial, and its failure to hold could set the stage for additional declines in price.
What’s Next for XRP?
The current technical outlook for XRP remains cautious. The failure to surpass $3.03 and the weakening RSI are signs that the market may face a downward movement. If XRP tests the $2.28 support and fails to hold, further price declines could follow.
The next few days could be pivotal in determining whether XRP can regain bullish momentum or if a downturn is inevitable.
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