XRP is walking a tightrope. After slipping nearly 1% to $2.1540, the token now hovers precariously above its $1.76 support zone, a level analysts are watching closely. If this threshold gives way, XRP could suffer an 18% decline, reinforcing the current bearish tone dominating the market.
Technical signals are adding weight to the caution:
- RSI has dropped to 39, pointing to waning momentum.
- MACD remains in the red, below the neutral line, cementing the short-term bearish setup.
- Despite this, a recent bounce back to $2.08 over the weekend shows that buyers are still defending the $2 mark.
Regulatory shadows still loom large. Ripple’s ongoing SEC legal battle has taken another twist, with new complexities around the Howey Test interpretation—a persistent drag on sentiment and clarity for institutional confidence.
Adding to the caution, XRP investment products saw $28 million in outflows this past week, reflecting a risk-off mood driven partly by Bitcoin’s consolidation phase.
Yet not all is doom and gloom. Some chart watchers see a setup forming:
- Elliott Wave and Wyckoff theory enthusiasts argue XRP may be preparing for a bullish sub-wave 3.
- A clean break above $2.56 could be the ignition point, with upside targets between $2.9 and $3.4.
- Bullish MACD divergence and signs of Wyckoff reaccumulation are reinforcing the idea of a momentum shift on the horizon.
With $2 and $1.76 acting as critical inflection points, XRP now faces a binary path: capitulate under pressure or break out with force. The next few sessions could set the tone for what’s to come.
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Source: https://www.ibtimes.com/xrps-key-support-zones-tested-bearish-pressure-mounts-3775499
Writer: Isaiah McCall
submitted by /u/GoldManLord to r/RippleTalk
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