⚡️ XRP Slides to $2.92 — Bullish Momentum Meets Resistance
After a powerful July rally, XRP surged to $2.92 — a key Fibonacci extension level — before facing heavy resistance and sliding back into consolidation.
Despite a 44% monthly gain, short-term selling pressure has raised questions about whether this is a healthy cooldown or the start of a deeper correction.
📉 Current Snapshot:
XRP price: $2.92 (down 11% from weekly high)
Monthly gain: +44%
Resistance: $3.61
Support: $2.60
RSI: Neutral zone, trending downward
Trading volume: -25% in last 24h
📐 Fibonacci Levels in Play:
$2.92 marks the 261.8% extension, a historic resistance zone
$2.13 is the 161.8% support, where bulls previously regrouped
Analysts like Dark Defender suggest XRP is in a corrective wave structure (A-B-C), with Wave B peaking at $2.92 before a potential retest of support.
🪙 Fundamental Boosts:
Ripple’s launch of RLUSD (Ripple USD stablecoin)
SEC leadership shift favoring crypto-friendly regulation
Whale accumulation despite short-term profit-taking
📊 Investor Sentiment:
While some traders are locking in profits, long-term holders remain optimistic. The launch of RLUSD and growing institutional interest could reignite momentum — but XRP must break above $3.61 to confirm a bullish continuation.
Do you think XRP will reclaim $3.61 and push toward $4.70 — or is this the start of a deeper correction? Drop your thoughts below 👇
