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XRP’s price continues to move within a larger bearish pattern on the weekly chart. This setup has been forming for months, showing that even though XRP has short bursts of growth, the overall trend is still downward.
In the last few days, there hasn’t been much change in the bigger picture, and XRP is still struggling to move higher after several failed attempts to break through major resistance areas.
Daily Chart Shows Positive Signs
On the daily chart, the outlook is more balanced. A bullish divergence is still active, and there is no sign yet of it being canceled out. This gives buyers some hope that the price could recover soon if market conditions turn favorable.
Support and Resistance Levels
XRP is facing strong resistance around $2.60 to $2.70. In the past two days, the price came close to this level, reaching around $2.59 before slowing down.
If the token fails to move higher, it could pull back toward the next important support zone between $2.30 and $2.40. This range has acted as both resistance and support before, making it an important area for traders to watch.
Range-Bound Trading Likely for Now
For now, XRP is expected to stay within this price range between $2.30 and $2.70. The token may continue to move up and down in this zone over the next few days, following the broader moves of Bitcoin and Ethereum.
Conclusion
Over the past four months, XRP’s price has fallen by roughly 32%, following a sharp rally back in July. That earlier surge left many wallets holding significant unrealized profits, which has kept XRP’s MVRV ratio (a metric used to measure holder profitability) relatively high compared to other major coins. Analyst DataDash said that this means XRP may still need to “reset” further before a strong new uptrend begins.