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The price of XRP has been under pressure. It is trading near the psychological level of $2.00 and struggling to break through resistance near $2.05 – $2.15
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The cryptocurrency has seen a drop of approximately 2.5% over the last 24 hours, and approximately 7% over the last seven days
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Some analysts, like Dark Defender, predict that the future price will be $5.85
According to CoinMarketCap XRP has been under pressure. The price of XRP has been stuck around $1.94, and it keeps hitting resistance near $2.05 – $2.15. Technical indicators show that the token is under short-term pressure due to its continued decline below several key moving averages. This reinforces the view of a consolidation rather than a definitive breakout.
The cryptocurrency has suffered a drop of approximately 2.5% in the past 24 hours and around 7% in recent days.
Related XRP Exchange Reserves Drop on Binance to 2.6B as Whales Accumulate $2.00
Macro risk sentiment still leans towards large-cap altcoins
This price movement is in line with what’s going on in the market. The price of top coins like Bitcoin and Ethereum fell in mid-December as a result of macro uncertainty and a weak risk sentiment.
Despite this, XRP is still one of the five largest cryptocurrencies in terms of market cap. It has a daily trading volume of a little over $4 billion.
Traders continue to trade XRP Support Levels and Resistance Levels
XRP has several important price floors. The $1.90 level is likely to be the most important. It’s a recent floor where buyers have stepped up and the price has stopped dropping.
The $1.82 price level is next in line, and represents a stronger area of demand that could attract dip-buyers if the $1.90 price level fails. The $1.70 level is also a long-term support and if it breaks below this price, then the price could be heading for a much larger downward movement.
The resistance levels begin at $2.00. This is a psychological barrier and a technical barrier. It represents the first challenge for a recovery in price.
The $2.10 – $2.15 price range is an important supply area where sellers previously regained their control.
Finally, the $2.30 level is a higher support level. Breaking above this price would signal that the short term downtrend has ended.
XRP Price Analysis
If XRP breaks through $2.00 and stays above $1.90, it could bounce back to the $2.10-$2.15 range, especially if market conditions improve.
A decisive break below the $1.90 level could lead to a move towards $1.82. If selling accelerates, there is a further risk of a decline toward $1.70.
XRP is currently moving sideways with the rest of crypto market, hovering around an important floor at $1.92. Although a drop may occur if this floor is broken, there are many other strong buying zones beneath it, and the continued interest of major institutions provides a long-term foundation. Some analysts, like Dark Defender, predict that the future price will be $5.85.
Related to Ripple Breaks XRP isolation with RLUSD expansion to Ethereum Layer 2s
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