XRP Faces Critical Resistance at $2.3 Amid Market Volatility
Amid market volatility, the XRP price has maintained support levels even as many altcoins declined. A key resistance level at $2.3 is crucial for XRP's next movement.
XRP Price Dynamics
- XRP is currently trading at $1.68 after dropping below the $2 support level.
- The $2 level had previously acted as a barrier, with buyers preventing further declines.
- XRP had been consolidating above $2, showing resilience against broader market trends.
- A breakout from a Descending Triangle pattern requires surpassing the $2.3 resistance for momentum.
- If successful, XRP could target $3.00 - $3.20; otherwise, it may remain in a consolidation phase.
Price Forecasts
- XRP has seen a 20% drop in the last 24 hours and a 30% decline over the past month.
- Analyst Jesse Colombo predicts a potential crash to $0.6 due to a Head and Shoulder pattern signal.
- A move to $0.6 represents a 64% decrease from current levels.
- New support levels identified between $2 and $2.2 may provide a rebound opportunity.
