XRP Faces Resistance and Potential Decline Amid Market Uncertainty

The price of XRP recently fell below $2, indicating a struggle to maintain momentum. The current market conditions present two potential scenarios for its price movement.

Potential Bullish Scenario

  • XRP must break resistance at $2.12 and $2.18 to resume an uptrend.
  • Buyers need to regain market control, shifting from the current seller's market.
  • Turning resistances into support and breaking the descending trendline are crucial for recovery towards $2.35-$2.45.

XRP Price

Possible Bearish Outcome

  • If XRP fails to reclaim $2.12-$2.18, the bears might gain control.
  • A rejection in the S&D zone could see prices dropping back to $1.90-$1.92.
  • This scenario indicates a shift in momentum towards a decline, leading to potential new cycle weakness.

XRP price chart from Tradingview.com