XRP is currently trading within a descending parallel channel, facing rejection near the upper boundary at $3.09. The price failed to sustain above key EMAs ($2.96–$3.02) and the Parabolic SAR has flipped bearish, suggesting short-term weakness.
Key levels to watch:
- Support: $2.91 (breakdown could target $2.78–$2.60).
- Resistance: $3.09 (breakout could push toward $3.40).
Market signals are mixed:
- DMI shows weakening bullish momentum.
- Open Interest dipped slightly, indicating reduced leverage.
- RSI (52.27) is neutral, with no clear directional bias.
$XRP is consolidating within a bearish channel, awaiting a breakout or breakdown. A hold above $3.02 could shift momentum bullish, while a drop below $2.91 may extend the correction. Neutral until key levels break.
