XRP is near significant support around $2.30, and a drop below it may trigger a more severe retracement.
If XRP manages to break above $2.43, it could move up to $2.61 and then to $3.10 soon.
The currency is currently being held by strong resistance and support levels which might result in a sharp movement soon.
The price action for XRP also continued to drive speculation as investors carefully monitor key Fibonacci levels, resistance points, and possible trend reversals. The asset is trading at $2.39, marking a minor 0.1% daily drop. This small decline places XRP precariously close to its critical support level at $2.30—aligned with the 0.888 Fibonacci retracement zone. This area is being watched closely, as holding above it may determine the next major direction for the token.
Fibonacci Support Key to Near-Term Outlook
A major focus among analysts remains the $2.30 price mark, derived from the 0.888 Fibonacci level. XRP has been testing this zone after facing a rejection near its local resistance at $2.43. The repeated touches on this support line suggest that any sustained move below $2.30 could initiate a broader decline. On the contrary, a successful defense of this level could fuel a rebound.
Source: (X)
The descending red trendline, previously acting as a long-term resistance, was recently breached—signaling a potential shift in market momentum. However, XRP has yet to establish solid footing above that breakout point. This makes $2.30 not just a Fibonacci value, but also a psychological marker for bulls and bears alike.
Short-Term Targets: Dual Scenarios in Play
On the bull run, if XRP maintains above $2.30 and breaks through slight resistance at $2.43, momentum can push it further up. This can propel the token to the next levels at $2.61 and even $3.10. A broader breakout may even target $3.39 in the coming weeks if bullish volume increases.
However, if bearish pressure breaks below $2.30, XRP could retrace further into the lower support zone near $2.15. A sharper breakdown could even revisit the $1.61 region, marked as a deeper support level on the chart. This bearish path aligns with the fishing hook symbol seen in the visual analysis—suggesting a potential liquidity trap for late buyers.
XRP Price Outlook
For the remainder of the day, XRP’s price could see moderate swings between $2.30 and $2.43. A close above $2.43 could signal bullish intent and target $2.61 next. Conversely, losing $2.30 may expose the asset to further downside toward $2.15. Traders are advised to monitor volume spikes and trendline confirmations closely.
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