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XRP has been on a bit of a slide back to some familiar territory, and the market is now looking to see if the token will hit around $2.83 — a level that has been a key spot for it already this month. The latest pullback began right after the XRP price could not break $3.10, which turned into a stubborn ceiling that stopped every push higher.
Once that price point held firm, sellers came in and pushed the price down to under $2.96 and then through $2.92, leaving little else in the way before the next obvious support zone comes into play.
The chart shows a step-by-step retreat, with each bounce weaker with higher lows. This pulls prices into the nearest floor, so $2.83 is now the focus. This was the line during the sharp drop in August, and it is where buyers fought back.
Analyst Ali Martinez, who had predicted this exact scenario, pointed to the $3.10 rejection as the turning point and suggested $2.83 as the likely destination.
Could it be worse for XRP?
The current price action has been moving in line with that idea, and with XRP now at $2.90, the gap is almost closed. The question is whether the floor can hold again or if the pressure will drive the price toward the wider range closer to $2.80.
If buyers reappear and defend $2.83, it is likely the recovery path would lead back toward $2.96 and eventually another test of $3.00. Until then, the short-term outlook is sticking with the more cautious side.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team