Ripple (XRP) Faces Continued Downside Pressure
Ripple (XRP) has failed to break key resistance at 2.3575, signaling a likely continuation of the bearish trend.
With downside targets in focus, traders should watch for a move toward the first profit target at 2.1350, followed by the major key-level support at 1.7065.
Ripple (XRP) has struggled to maintain upward momentum, with repeated failures to break through the 2.3575 resistance level. This price action suggests a continuation of the current bearish trajectory, with further declines likely in the near term. The inability to sustain higher levels indicates a shift in market sentiment, favoring the downside.
As of today [16.03.25], XRP is trading at 2.2950, hovering near key technical levels. The first downside target is set at 2.1350, marking a local support level, while a more significant decline could drive prices toward 1.7065, which aligns with major structural support.
Ripple (XRP) Market Dynamics
The recent downside pressure in XRP is driven by broader market weakness and increased selling activity at key resistance zones. The failure to hold above 2.3575 reinforces bearish sentiment, suggesting a lack of buying interest at higher levels. Additionally, macroeconomic factors and regulatory concerns surrounding XRP could further weigh on price action.
Key Bearish Catalysts
- Failure at Key Resistance: The rejection at 2.3575 highlights strong overhead resistance, preventing further upside.
- Lower Highs Formation: Price action continues to produce lower highs, a classic bearish signal.
- Weak Market Sentiment: Broader risk aversion in the crypto market may accelerate selling pressure on XRP.
Key Price Levels
- Major Resistance (Rejected): 2.3575
- First Downside Target: 2.1350
- Second Downside Target (Major Support): 1.7065
With Ripple (XRP) unable to break above 2.3575, sellers remain in control, increasing the likelihood of a move toward 2.1350 in the coming sessions. A confirmed breakdown below this level could open the door for a deeper decline toward 1.7065, where stronger support may be found. However, a sustained break above 2.3575 would invalidate the bearish outlook and shift focus back to the upside.
Traders should remain cautious and monitor price action closely as XRP approaches key support levels.
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