XRP price trades at $2.83 and remains pressured inside a long-term descending channel, with immediate support at $2.80 and downside risk to $2.50 if that level breaks; upside targets at $7, $11, $20 and $27 require a confirmed break above long-term resistance.
XRP price at $2.83, testing $2.80 near the lower boundary of a multi-year descending channel.
Momentum is weakening: RSI 42.52 and negative MACD suggest limited buying strength.
Analyst Egrag Crypto cites upside targets at $7, $11, $20 and $27 contingent on channel breakout.
XRP price $2.83 under pressure near $2.80 support; monitor RSI/MACD and breakout to targets at $7+ — read analysis and trade plan.
XRP trades at $2.83 as analyst warns of deeper declines, with key supports and targets set within a long term channel.
- XRP trades at $2.83, down 8.32%, approaching key support inside a multi year descending channel pattern.
- Analyst predicts upside targets at $7, $11, $20, and $27 if XRP breaks long term resistance levels.
- RSI at 42.52 and negative MACD shows weakening momentum, with $2.80 acting as key immediate support.
What is the current XRP price outlook?
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XRP price is under renewed selling pressure at $2.83, testing the lower edge of a long-term descending channel. Immediate support sits at $2.80; a decisive break could open a move toward $2.50, while sustained defense would be required to retest $3.30–$3.50.
The two-week chart shows a sequence of lower highs and lower lows inside a defined descending channel. Price frequently rejects the blue resistance zone and mid-range pink bands, while green areas mark the descending support. This structure implies that until price breaks above the channel, upward targets remain contingent on confirmed trend shifts. Egrag Crypto (analyst) identified accumulation potential near the lower boundary if buyers step in.
Momentum readings are bearish. The RSI stands at 42.52 with a signal near 46.38, indicating fading buying pressure and proximity to oversold territory. The MACD is negative (MACD -0.0450, signal -0.0209, histogram -0.0241), reflecting weak momentum and the potential for either a corrective crossover or continued decline.
The recent July rally above $3.50 failed to sustain, leaving XRP inside the descending channel and vulnerable to renewed downside. Technical structure indicates that until a higher high is recorded above the blue resistance band, the path of least resistance remains sideways to lower.
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Source: https://en.coinotag.com/xrp-may-test-2-80-support-within-long-term-descending-channel-analyst-warns/