XRP Faces Double Rejection at $2.65 and $2.57 Resistance Levels
Market analyst Andrew Griffiths noted that XRP has faced rejections at resistance levels of $2.65 and $2.57, indicating potential selling pressure. The failure to maintain above $2.57 raises risks for a deeper retracement if bullish support does not return.
Volume And Price Divergence At Resistance
Griffiths highlighted a divergence in trading volume at recent highs, suggesting weakening bullish momentum. Despite rising prices, trading volume has decreased, indicating fading market enthusiasm. This raises concerns about the sustainability of upward momentum without additional support.
The Relative Strength Index (RSI) remains favorable, indicating potential for further price increases if key resistance levels are broken. However, Griffiths cautioned against full commitment to bullish positions due to declining volume, emphasizing the need for confirmation through stronger buying activity or sustained price movements.
If XRP cannot hold current price levels, a pullback to earlier trend zones is likely, where support could be found. This pullback might present an opportunity for better entry points rather than signaling the end of a bullish trend.
XRP Rejection Signals Growing Uncertainty Among Traders
Griffiths concluded that market uncertainty complicates predictions for XRP’s price direction. While there have been bullish movements, mixed signals from volume divergence and resistance rejections show neither bulls nor bears have complete control.
Key levels include $2.37, which could provide stability if prices retrace. Holding above this level may lead to a consolidation phase or continued upward movement, while failing to defend it could indicate downside risks toward lower support zones.
