The $2.90 level is proving crucial for XRP as uncertainty from ETF decisions and security concerns weighs on sentiment.
XRP has retreated to the $2.88–$2.90 support band, a zone that has historically attracted strong buying interest. The move comes as broader market uncertainty, fueled by delayed exchange-traded fund approvals and renewed debates over digital asset security classifications, dampens trader optimism.
The latest 4-hour chart shows XRP losing grip on the $3.00 handle after multiple failed attempts to hold above the psychological barrier. Immediate support now sits within the green demand zone at $2.85–$2.95, where the asset has bounced several times since late July. Beneath that, a deeper pullback could test the $2.65–$2.70 region, marked by strong historical buying pressure.
Upside resistance remains capped around $3.35 and $3.60, both areas where sellers stepped in aggressively during recent rallies. “The $2.90 level is the line in the sand for XRP bulls. A decisive breakdown could trigger a move toward $2.70, while a rebound may give buyers another chance to target $3.35,” BITX market strategist noted.
The downturn comes amid broader industry challenges. ETF applications for digital assets have seen fresh delays, while rankings highlighting poor security frameworks for several tokens have raised investor caution. “The technical setup shows consolidation, but external pressures are clearly shaping sentiment. Until regulatory clarity improves, traders are likely to remain defensive around key support zones,” According to BITX analysts.
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.