Traders eye $2.39–$2.41 range as critical short-term support amid weak momentum
XRP (XRP/USD) fell nearly 5% to $2.41 on Tuesday, extending its recent correction even as institutional developments in the ETF space continued to advance. The decline has put the token under technical pressure, with traders closely watching the $2.39–$2.41 range as a pivotal area that could determine whether XRP rebounds or faces deeper losses.
Market data shows XRP struggling to sustain momentum after last week’s brief surge above $2.55, which was met with heavy selling near key resistance zones. On the 4-hour chart, the token has formed a bearish structure, failing to hold above a local change of character (CHoCH) zone while creating lower highs—a signal of weakening buyer confidence.
“XRP’s technical posture suggests short-term exhaustion,” BitXJournal market analyst explained. “A clean break below $2.39 could expose the asset to the $2.30–$2.25 liquidity pocket, especially if overall market volume remains muted.”
Technical Analysis: Momentum Falters Ahead of Potential Bearish Cross
From a structural perspective, XRP has lost ground beneath its mid-range resistance zone near $2.45, now acting as supply. The token is also flirting with a bearish moving average cross, which could confirm if downside pressure accelerates.
The blue support zone near $2.30 remains the next key level for bulls to defend. A rebound from this region could restore short-term balance, but failure to hold would validate a bearish continuation pattern that began forming in early November.
Still, BitXJournal experts note that long-term fundamentals remain constructive as filings for spot XRP exchange-traded funds (ETFs) progress through regulatory review. “ETF momentum might provide medium-term tailwinds, but near-term charts are clearly pointing to fatigue,” another strategist noted.
For now, XRP’s ability to maintain stability above $2.39 will define sentiment heading into mid-November.
If buyers reclaim the $2.45 zone with strong volume, it could neutralize the bearish setup and reopen the path toward $2.60.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.