XRP Faces Resistance at $2.69, Key Level for Price Movement
XRP is facing significant resistance at the $2.69 level, crucial for its potential rise to $3. The price recently peaked at $2.63 before settling around $2.57. Key points include:
- The $2.69 resistance is identified as the 0.236 Fibonacci retracement from XRP's all-time high.
- Previous attempts to break this level since December 2024 have been met with strong selling pressure.
- Momentum indicators remain muted despite recent gains, suggesting underlying demand and accumulation.
The outcomes at the $2.69 level are pivotal:
- A confirmed breakout above $2.69 could signal a rally towards $3.00.
- If resistance holds, XRP may retreat to the next support level near $2.30.
The performance at $2.69 will likely influence XRP's trend for May. Currently, XRP is trading at $2.57, reflecting a 4% increase in the past 24 hours.
