$XRP /USDT TECHNICAL ANALYSIS: BEARS DOMINATE AS PRICE TESTS KEY SUPPORT

$XRP /USDT is currently trading at 2.8747 USDT, down 3.37% over the past 24 hours. The pair is showing bearish momentum, testing the crucial support zone around 2.8300 USDT.

Key Levels:

Resistance: 2.9947 – 3.0540 USDT

Support: 2.8303 – 2.8168 USDT

24h High / Low: 2.9917 / 2.8303 USDT

Technical Indicators:

Moving Averages (MA & EMA): Price is below short-term EMAs, indicating continued downward pressure.

Bollinger Bands: Approaching lower band, suggesting potential oversold conditions, but bearish trend remains intact.

MACD: Bearish crossover, confirming selling momentum.

SAR: Positioned above price, reinforcing bearish signals.

Volume: 437.16M USDT traded, showing strong participation in the sell-off.

Market Outlook:

XRP is currently under pressure, and a break below 2.8300 USDT could open the door for further downside toward 2.8160 USDT. On the upside, a recovery above 2.9947 USDT may target 3.0540 USDT, but bullish momentum is limited until support levels stabilize.

Strategy:

Short-term traders: Monitor 2.8300 USDT support for potential bounces.

Long-term holders: Maintain positions but be cautious of further downside.

⚠️ Market remains bearish, and confirmation of trend reversal is needed before considering new long entries.