XRP at a Crossroads: Will It Hold $3.00 or Plunge to $2.56?
XRP teeters on the edge—again. The $3.00 level isn't just psychological; it's the make-or-break zone for bulls. Fail here, and a swift drop to $2.56 could be next.
Why $3.00 matters: It's the last line of defense before bears take control. Traders are watching volume like hawks—thin support could mean a race to the bottom.
Meanwhile, crypto 'experts' on Twitter will spin this as 'accumulation time'—right before they panic-sell. Classic.
Bottom line: XRP needs to hold $3.00 like your portfolio needs diversification (which it does). No second chances here.
- XRP trades near $2.96, facing strong resistance at $3.00 with a potential drop to $2.56.
- Weekly bearish divergence may signal a steep fall; the same pattern resulted in a 60-70% decline in 2020-21.
- Ripple’s private market valuation exceeds $15 billion, showcasing strong investor confidence and market presence.
Ripple (XRP) is once again under pressure, despite gaining 7% and trading at $2.96. Technical indicators across both weekly and daily charts suggest growing bearish momentum. A crypto analyst cautions that the coin is hours from solidifying a significant bearish divergence on the weekly chart.
On the weekly chart, XRP is forming higher highs in price while the RSI makes lower highs. The bearish divergence pattern also appeared between late 2020 and mid-2021. During that time, XRP dropped by 60% to 70% over three months, despite some temporary rebounds.
A similar setup now points to a possible steep decline. If this week’s candle confirms the divergence, the overall market trend for XRP could turn bearish.
XRP Faces Key Resistance at $2.90–$3.00
The daily chart reveals XRP retesting an essential resistance level of $2.90 to $3.00. This has served as resistance as well as support on previous market cycles. The next direction will establish if XRP recovers the level or gets rejected and drops.
Failure to break through $3.00 might trigger another selling phase. Rejection at that same point might trigger the initiation of short positions by traders. But a breakout as well as a close on the daily chart well over $3.00 might make Ripple test resistances at $3.15 as well as at $3.40.
Crypto Analyst Ali Mateniz reported that XRP’s MVRV ratio has printed a death cross. In the past, this indicated a potentially sharper correction. However, bullish momentum still looks intact despite that warning signal. Volume readings still make the case for upside if XRP should hold its ground around pivotal barriers and resist sharper breakdowns.
Failure to maintain the $2.7346 level may push XRP towards the fair value gap of $2.5678 and $2.6629. A candlestick drop through $2.6168 may intensify the downtrend. Nevertheless, there are still buyers/orders below this region. The Ripple price might still make a comeback if the market doesn’t experience a significant bearish breakdown.
Ripple’s Valuation Strengthens XRP Narrative
Apart from the price charts, Ripple excels in the private market. CBInsights ranks Ripple as the 23rd most significant private company worldwide, valued at over $15 billion. The list has big players such as OpenSea and KuCoin, which rank Ripple among select blockchain unicorns.
Ripple entered the unicorn list on December 20, 2019. The platform defines unicorns as $1 billion valued private companies. Having 31 of the world’s top 50 private companies from the U.S., Ripple’s entry underscores its notable market presence as well as long-term investor confidence in its ecosystem.
