XRP Faces Tough Resistance at Key Level
XRP struggles to break key resistance line as bulls aim for $4; support at $2.94 becomes critical.
- XRP keeps failing to break descending resistance.
- A breakout could push XRP toward the $4 mark.
- $2.94 is a key support level if resistance holds.
XRP price action is showing signs of stress as it repeatedly fails to break through a key descending resistance line. Every attempt to move higher has been met with sharp rejections, keeping the asset trapped in a bearish pattern. Despite bullish enthusiasm in the market, XRP’s performance has been underwhelming in recent sessions.
The descending resistance line, clearly visible on most technical charts, has become a critical level. A successful breakout above this zone could ignite a strong rally, potentially pushing XRP toward the $4 mark. But until that happens, XRP remains under pressure.
$4 Target in Sight — But Only If Resistance Breaks
If XRP can break and close above this long-standing resistance line, momentum could quickly shift. Such a move would likely trigger a wave of buying interest, with $4 emerging as the next major target. This level isn’t just psychological; it’s also where many traders believe the next major liquidity pool lies.
However, without a clean breakout, XRP’s upside remains limited. Every rejection at this resistance strengthens the bearish case, increasing the chances of a pullback.
Support at $2.94 Is Now Crucial
In the event of another failed breakout attempt, all eyes will turn to the 20-day Exponential Moving Average (EMA), which currently sits around $2.94. This level has acted as a reliable support recently and could provide a temporary floor for prices.
A breakdown below $2.94, however, could signal deeper losses and may invite more selling pressure in the short term. Bulls will need to defend this zone aggressively to avoid a further slide.
