XRP price is struggling to maintain important levels despite broader market strength, so that they are concerned about a potential withdrawal.
Summary
- XRP price is struggling less than $ 3 despite the increase in the crypto market.
- Institutional question and pending XRP ETF reviews have fueled optimism, but the momentum remains too weak to support an extensive rally.
- Santiment -Data show rising FUD, with more bearish comments than bullish around the token.
The XRP price acts around $ 2.97 at the time of writing, according to crypto.news data, the XRP price has fallen by 0.62%. Although token remains a modest 4% in the past week, the recent price promotion has been filled in.
XRP (XRP) had previously risen in addition to large assets such as Bitcoin (BTC) and Ethereum (ETH), briefly pushing back above $ 3 before he was rejected in resistance. The sales pressure returned quickly, so that the Ripple -token price would dive back, even if the sentiment for crypto generally stays bullish.
Although the growing institutional activity led by Vivopower’s planned $ 19 million XRP Treasury and Zeven had fueled optimism in the short term in the short term, they were not enough to translate into persistent upward pressure.
Can XRP -Price find support and push higher?
Currently, social sentiment around XRP Beerarish has become. According to a santiment of 7 October factsToken has experienced its highest FUD level of Fud since large market events six months ago. The analysis noted that there have been more bearish than bullish comments from retail traders in the past two to three days, in accordance with the price decrease.
This pattern means historically a possible change, because markets tend to move pessimism in the opposite direction of excessively small trader. Against this background, XRP price views largely depends on how it behaves about important technical levels in the short term.
Momentum indicators are mixed. The MACD (moving average convergence -diversion) is somewhat positive, with the MACD line just above the signal line. This suggests a modest bullish momentum structure, but the signal remains weak.
The most important support line is the 200-day advancing average, currently in the vicinity of $ 2.58, which has historically succeeded as a strong basis for XRP during market fluctuations. If XRP continues to retain above this support and the interest of the buyer remains stable, renewed upward momentum can return.
To confirm a bullish breakout, the price must close to the resistance level of $ 3.15, which was an earlier zone of consolidation and rejection. Exciting this barrier for fixed volume would probably ignite the buying interest that could push XRP to $ 3.66 and possibly higher goals, depending on the total crypto market conditions.
On the other hand, if XRP does not hold support around the 200-day advancing average and the range of $ 2.70- $ 2.90, there can be a period of consolidation or even extra downward risk. A malfunction under the key support can cause further losses, so that the price is dragged lower to $ 2.50 or lower.
