The price of XRP has recently had a strong upward trend, but it is now confronted with a major resistance around $ 2.90. On the daily graph, XRP has risen steadily, and According to an analyst, If the price can close above $ 3, it can quickly climb to all time near $ 3.40.
For now, the range acts as a major obstacle from $ 2.80 to $ 3.00. This zone has traditionally been a strong resistance area, both from earlier price action and important Fibonacci levels. Until XRP breaks this through, the price around these levels can continue to struggle.
On the other hand, when XRP sees a pullback, experts see the range from $ 2.55 to $ 2.62 as a possible support zone. This area was rather a resistance level and could now act as a new support if the market cools down.
Looking at the shorter time frames, especially the 4-hour graph, XRP recently became overbough in recent days after a sharp rally. The RSI indicator had reached high levels, indicating that the market was increased too quickly in a short period. As a result, a small correction or lateral movement was expected, and that is what started to happen.
This cooldown is considered healthy for the market and helps to reset indicators before they may continue bullish trend. In general, the larger trend for XRP remains positive, although the short -term action may be a bit quiet, as long as it stays above the most important support levels.