XRP buyers are holding strong at $2, but for how long?

Key Support levels: $2, $1.6

Key Resistance levels: $3, $3.4

1. Buyers Make a Stand

Despite the market volatility, XRP has managed to remain above $2 which was well defended to date. This support level was tested five times since December 2024 and buyers always came back there. However, sellers are increasing the pressure.

Chart by TradingView

2. Price is at a Key Support

As long as XRP manages to hold above $2, its bullish uptrend remains intact. However, with each attempt by sellers to break this key level the chances of them succeeding increases. This is why buyers have to push the price higher and move it away from this level as soon as possible to maintain control.

Chart by TradingView

3. Bearish Momentum Intensifies

Even if bulls did a good job so far, the market momentum is against them. This can be clearly seen on the weekly MACD which is accelerating downwards after its recent bearish cross. If nothing changes, the expectation is that the current support at $2 may fall and see the price go to $1.6 next.

Chart by TradingView SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.