XRP News: Recent Decline Sparks Cautious Sentiment, But Solid Support Remains

XRP Price Prediction for March 9

XRP’s current trading level of $2.23 shows a recent decline of 4.06% in the past 24 hours, suggesting selling pressure possibly triggered by profit-taking or broader market uncertainties. Over the last 30 days, XRP has experienced a 7.05% decline, indicating cautious sentiment. The token has found solid support around the $2.20 level, with a stronger support zone possibly near $2.10. A sustained drop below this level could trigger further declines.

Ripple to Outperform Bitcoin? XRP ETF Eyes Massive Inflows

The cryptocurrency market has been volatile in recent weeks. Despite struggles to regain late 2024 price levels, industry regulation offers hope for a brighter future. Ripple stands out as a potential outperformer, with an impending XRP ETF expected to bring significant inflows. Bitcoin, the leading cryptocurrency by market cap, fell below the $90,000 mark despite a recent executive order from US President Trump to establish a BTC reserve. However, there is a chance that XRP could outperform Bitcoin.

XRP at Critical Head-and-Shoulders Crossroad

XRP is at a crucial juncture in its price action, with analysts closely watching its movement around a key head-and-shoulders pattern. A breakout above the right shoulder could invalidate the bearish structure and potentially set the stage for a massive rally toward $5. However, a failure to hold above the neckline could confirm the bearish setup, leading to further downside pressure. Market expert Ali Charts shared this assessment, stating that if XRP avoids closing below the head-and-shoulders neckline and breaks above the right shoulder, it could invalidate the bearish pattern and trigger a bullish breakout toward $5.

XRP Tests Critical Resistance: Will Price Break Through to $5 or Fall Back?

XRP is currently testing a critical level in its price action, trading at $2.26 with a 3.26% decline. The cryptocurrency’s price action has formed a head-and-shoulders pattern, with the neckline being tested. If XRP can rise above the right shoulder without closing below the neckline, it could invalidate the bearish pattern and lead to a bullish breakout, potentially pushing the price toward $5. However, if it fails to break the resistance, the bearish outlook may persist. Rising daily active addresses contrast with falling transaction counts, signaling mixed market sentiment.