XRP’s price has been locked in a tight range for several weeks, leaving traders on edge as they await a decisive move.
After climbing to $3.66 earlier this year, the token entered a prolonged correction phase that has so far kept it between $2.80 and $3.38. Analysts at MakroVision argue that this sideways action could be the calm before a significant breakout.
For now, $2.80 is seen as the line in the sand for bulls. If that support fails, the chart points to further downside, with $2.65 and $2.48 standing out as the next potential landing zones. Both levels align with key Fibonacci retracement markers, often used by traders to gauge the strength of a pullback. A slide that deep, analysts warn, could shake confidence in XRP’s ability to quickly resume its larger uptrend.
Resistance is just as important to watch. A push beyond $3.06 could open the door to short-term upside, possibly carrying the token back toward $3.38. Yet according to MakroVision, only a sustained breakout above that higher boundary would provide enough confirmation that XRP has broken free from its consolidation and entered a new bullish phase.
Market sentiment around XRP reflects the uncertainty. While social data shows optimism has been rising since early September, the lack of momentum has tested patience among retail traders. Broader crypto markets have also been moving cautiously ahead of the Federal Reserve’s policy decision, with many risk assets trading flat in recent days.
MakroVision described XRP’s chart as a “high-level consolidation,” a technical term that signals strength rather than weakness when it occurs after a large rally. Analysts believe that the current sideways structure is likely a prelude to a sharp move, though the direction remains undecided.
At the time of writing, XRP is trading at $3.04, sitting almost perfectly in the middle of its recent range. Whether it breaks down toward support or rallies back to retest the highs will be the key question for traders heading into the next few sessions.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/xrp-price-analysts-warn-2-80-support-could-decide-the-next-big-move/