XRP Price Prediction: $2.77 Struggles at Key Resistance as Bears Stay in Control
XRP is trading at $2.77, down 2% in the last 24 hours with daily volumes over $6.3 billion. Market cap is around $165 billion...
Quick overview
- XRP is currently trading at $2.77, down 2% in the last 24 hours, with a market cap of around $165 billion.
- Technical indicators show bearish momentum, with resistance identified between $2.88 and $2.97.
- Recent price action indicates indecision, with support at $2.73 being tested and potential targets at $2.63 and $2.53 if it fails.
- Traders are advised to consider short entries near $2.87, with a stop loss above $2.97 to manage risk.
XRP is trading at $2.77, down 2% in the last 24 hours with daily volumes over $6.3 billion. Market cap is around $165 billion, keeping XRP in the top 5. Despite the growth of the Ripple ecosystem, the short term is being driven by technicals and they are bearish.
XRP Chart Signals and Momentum
The chart shows resistance near $2.88-$2.97 where the 50 and 200 EMAs meet a descending trendline from mid August. This area has capped price rallies multiple times and is a pattern of lower highs.
Recent candles show indecision with a long lower wick at $2.73, buyers are trying to defend support but lack conviction. Momentum indicators are bearish:
- RSI is at 37, deep in bearish territory but showing mild bullish divergence.
- MACD is below zero with flat signal lines, weak momentum.
If $2.73 fails, targets are $2.63 and $2.53, previous swing lows.
XRP Short Term Trade Setup
For traders, it’s a cautious setup. Bears are in control while price is below the trendline.
- Short entry: near $2.87 resistance
- Stop loss: above $2.97 to avoid a false breakout
- Targets: $2.73 first, then $2.63 if momentum continues
Only a break above $2.97 and sustained above the 200 EMA would change the bias to up, then $3.10 is possible. Until then, sell into strength.
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