XRP Price Action Key at $2.3 Resistance Level
XRP Price– Ripple (XRP) is nearing a critical resistance area between $2.3 and $2.35 that could challenge its recent upward momentum. How the price behaves at this juncture will play a significant role in shaping XRP’s next major move.
Recently, Ripple (XRP) broke above its 100-day moving average around $2.2 and successfully pulled back to that level, confirming support. Currently, the price is trading within a decisive range bounded by the 100-day and 200-day moving averages. This range suggests a phase of consolidation as Ripple (XRP) approaches the $2.3–$2.35 resistance zone. This area is reinforced by the 200-day moving average at approximately $2.36 and the upper boundary of a long-term descending wedge pattern.
This convergence of resistance levels is expected to act as a strong barrier that may stall the ongoing rally. As noted, “A rejection from this level could initiate a corrective move,” while a breakthrough could open the door for a renewed push toward the psychological $2.5 resistance.
On a shorter timeframe, XRP has been climbing steadily within an ascending price channel. The lower boundary of this channel, around $2.2, has recently served as reliable support. Now, the price is approaching the significant $2.3 resistance level, which historically has capped upward movements.
A clear breakout above $2.3 would be necessary to shift market momentum toward a more bullish outlook. However, given XRP’s past difficulties overcoming this level, “a pullback or consolidation is the more likely short-term scenario.”
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
