- XRP nears $2.80 resistance as traders anticipate potential reversal.
- Analyst warns XRP could face rejection before breaking key level.
- Technical charts reveal major resistance zone aligning with Fibonacci barrier.
The XRP market is witnessing renewed tension as traders brace for a possible rejection near a crucial resistance level. Price action has tightened, and technical signals now point to a potential stall just below the $2.80 mark.
Analyst Highlights Key Technical Barriers
According to @ali_charts, XRP may struggle to sustain its recent recovery as it approaches a major resistance zone between $2.70 and $2.80. His chart shows the asset moving inside a descending channel since August, where every attempt to break higher has met selling pressure. This technical setup hints at a short-lived rally before another correction unfolds.
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The analysis also highlights the 0.618 Fibonacci retracement around $2.70, a level that has acted as a ceiling for previous rebounds. This overlap between Fibonacci resistance and the upper channel boundary strengthens the case for a pullback. If buyers fail to defend current gains, XRP could slide back toward $2.45 or even $2.30, maintaining its longer-term downward structure.
Daily Chart Confirms Resistance Zone
Meanwhile, daily data from TradingView shows XRP trading near $2.58, sitting slightly above its 20-day moving average. Bollinger Bands suggest moderate volatility, with the upper band positioned at $2.69, adding to the cluster of resistance near the same zone identified by Ali. Despite small intraday gains, momentum remains cautious.
Indicators Signal Market Indecision
Momentum metrics further support this neutral stance. The Relative Strength Index currently reads 49.5, showing a balance between buyers and sellers. Unless RSI moves decisively above 55, strong bullish momentum is unlikely to emerge. A dip below 45, however, might confirm a new phase of weakness and extend XRP’s decline.
Source: Tradingview
Consequently, the battle near $2.80 has become the defining point for XRP’s next major move. A clean breakout could open the path toward $3.00, while rejection may trigger a new wave of selling. Traders now watch this resistance zone closely, aware that the next few sessions could set the tone for XRP’s direction in the coming weeks.
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