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A strong intraday push by XRP temporarily pushed it over the crucial $2 mark, reviving market optimism. The asset has since fallen back below that mark, though, and is currently trading at about $2.02 as of press time. The sharp rise and equally sharp fall highlight the market's brittle confidence and highlight how crucial the $2 resistance level is to XRP's short-term course.
The descending price channel, which has governed the asset's movement since the late 2024 peak saw it recover from its lower boundary. As the support at $1.80 held firm during the wider market correction, some analysts anticipated this technical rebound. Although the bounce has brought XRP back toward the channel's center, it will still be difficult to regain higher ground, particularly above $2.20 and $2.30.
Bulls are worried about the hesitancy that XRP is displaying at this $2 mark. Strong volume on the upward push has not been followed through on, and the asset is once again having difficulty staying above a level that is both technically and psychologically significant. This implies that although demand is present at reduced prices, there is still a lack of confidence in a complete breakout.
Gamza KhanzadaevThe 50-day and 100-day moving averages, which are located around $2.30 and $2.40, could be tested if there is a successful and prolonged move above $2.20, which would be a strong indication of strength. An additional confirmation of a bullish reversal would come from a breakout from the descending channel.
Yuri MolchanConversely, if the $2 line is broken, there may be another decline, particularly if the overall market is still under pressure. XRP could return to $1.60 region if it falls below the key support, which is still at $1.80. Although there was some hope when XRP bounced back above $2, a sustained recovery has not yet been confirmed. The market will be closely monitoring whether XRP can maintain its position above $2 or revert to correction territory over the course of the next few crucial days.
Vladislav Sopov
Dan Burgin