XRP price is testing a critical consolidation zone around $3.00 after a sharp rally; technicals show waning momentum and falling volume, and a daily close below $2.90 would likely confirm a downside break and raise the risk of a deeper retracement.
XRP trades inside a symmetrical triangle near $3.00, signaling consolidation after the rally.
Momentum indicators (RSI ~48) and declining volume point to reduced buying pressure and higher short-term volatility risk.
Support levels: 100-day EMA $2.76, 200-day EMA $2.49; a close below $2.90 may trigger a corrective leg.
XRP price update: consolidation at $3.00 with weakening momentum — monitor $2.90 support closely for potential breakdown. Read the technical outlook.
XRP holds above $3.00 but struggles to break resistance, with waning momentum and volume signaling potential price breakdown risks ahead.
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XRP has entered a pivotal stage after an earlier price rally that pushed the token above $3.50. The asset has since corrected and now trades near the $3.00 mark, where it faces strong technical resistance and a drop in market participation.
XRP price is primarily driven by its formation of a symmetrical triangle after a multi-week rally, combined with falling trading volume and a neutral RSI that indicate weakening directional conviction. These technical signals suggest the market is awaiting a decisive breakout or breakdown to define the next trend.
Symmetrical triangles typically resolve with a strong directional move once volume confirms the breakout. XRP remains above the 100-day EMA ($2.76) and 200-day EMA ($2.49), which provide important support. However, declining daily volume and an RSI around 48 show limited buying interest. If XRP closes below $2.90 on the daily chart, the structure would be at heightened risk of a downside resolution and deeper retracement.
Trading volume peaked during the rally and has since contracted sharply. Lower volume reduces the probability of a sustained upward move because fewer buyers are participating. Without fresh inflows, the triangle pattern is more likely to resolve downward, increasing the chance that recent gains will be partially erased.
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Source: https://en.coinotag.com/xrp-could-face-breakdown-if-it-closes-below-2-90-as-momentum-and-volume-weaken/