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Ripple’s XRP has drifted to the red zone and is currently down by more than 2 percent. XRP has been trading within a range of approximately $2.20 to $2.70 over the past few days, showing limited movement on the larger time frames. The altcoin has recently experienced a slight pullback, which has led to the invalidation of a previous bullish breakout pattern.
While the price has not changed significantly, it remains within a potential bull market structure. The strong resistance level is around $2.90 to $3, where selling pressure has consistently been observed. On the lower end, there is support near $2, which has been tested multiple times and serves as the lower boundary of XRP’s current trading range. If the price breaks below $2, it may hint further downside.
Understanding The Support and Resistance Levels
The breakout had been confirmed at around $2.35, but the price closed below this level, invalidating the pattern and suggesting that further upside momentum is unlikely in the near term. The immediate support level in the short term is around $2.30 to $2.31, which is currently holding, but if it breaks, the next support lies around $2.23, with further downside possible towards the $2 level.
It will also most likely drop to $1.90. After reaching $1.90, the key question is whether XRP can hold that level. If it breaks $1.90, the market will enter a bear phase, and the bullish trend will be over. However, that hasn’t happened yet, so it’s too early to make any conclusions. However, if XRP holds $2.30, it could rise to $2.60. If it breaks above $2.60, we can consider $3 as the next target.