XRP Price Declines After Rejection at $2.7 Resistance Level
XRP has faced strong selling pressure after failing to break the $2.7 resistance level, leading to a decline in price. This shift in market sentiment has resulted in increased bearish control, prompting traders to watch key support levels for future movements.
Key developments include:
- Technical indicators show growing weakness, suggesting further losses may occur.
- The price is trading below the 100-day Simple Moving Average (SMA), indicating a bearish trend.
- The RSI has declined again, reinforcing the sellers' advantage.
Traders should monitor the following support levels:
- $1.9 support zone, crucial during past pullbacks.
- If it breaks below this, the next critical support at $1.7 could be tested.
- A drop below $1.7 may lead to a deeper correction towards $1.3.
- Conversely, a rebound from $2.2 or $2.0 may signal buyer strength and potential reversal.
