TLDR:
- XRP trades at $2.89, up 1.57% in 24 hours, but momentum stalls below the $3 resistance level.
- CasiTrades flagged bearish divergences on XRP, with price action showing ABC structure instead of a five-wave rally.
- Supports at $2.79 and $2.58 are critical, with traders warning a break below $2.58 risks invalidating the bullish setup.
- XRP’s next push depends on Bitcoin alignment and bullish divergences appearing before resistance can break cleanly.
Traders are watching XRP as the token hovers near key resistance while flashing bearish divergences. Market watchers caution that momentum remains fragile despite a brief bounce from last week’s trendline.
The price has not cleared the $3 barrier, which is viewed as the critical test for a new trend. Without that breakthrough, focus shifts back to support levels below the market. The next sessions may determine whether XRP pushes higher or faces deeper retracement.
XRP Price Faces Stiff Resistance at $3
Crypto analyst CasiTrades shared that XRP is showing early weakness despite holding momentum off a highlighted trendline.
The $3 price mark has emerged as the clear resistance to beat, with $2.79 and $2.58 set as key downside supports. Traders are treating these areas as retracement levels that could still sustain a larger bullish push if defended.
XRP Bearish Divergences Hint at Lower Supports Before the Break!
XRP has shown SOME momentum off the black trendline I highlighted last week… The respect of this level is encouraging, but we’re not in the clear yet!! Price hasn’t broken above the critical $3 resistance.… pic.twitter.com/UcrK3FbIDF
— CasiTrades
The analyst observed that the latest move looked like an ABC corrective pattern, not the stronger five-wave impulse traders want to see.
XRP rejected the target levels for the C-wave, and bearish divergence has appeared on multiple timeframes. These technical signals have tempered expectations for a clean breakout into a new uptrend.
According to the analyst, holding above $2.69 is crucial for the short-term count to remain intact. If that fails, attention turns to $2.58, the .618 retracement, which is seen as the last line of defense for the bullish setup.
A break below would challenge the wider market structure and reset projections.
Per CoinGecko data, XRP trades at $2.89, showing a 1.57% daily gain and a 1.33% weekly increase. Despite the uptick, technical charts suggest hesitation, leaving traders cautious about the next move.
Crypto Traders Eye Supports at $2.79 and $2.58
The $2.79 level, corresponding to a .5 retracement, has emerged as the first support zone to watch. Market participants believe it could provide the base for another attempt at breaking $3. However, continued rejection near resistance keeps pressure on lower targets.
The $2.58 level remains the most discussed among traders. Analysts argue that as long as this support holds, the macro bullish picture stays intact. A defense here could set the stage for the larger Wave 3 breakout that technical traders have been anticipating.
CasiTrades pointed out that traders should watch Bitcoin for alignment, as broader market sentiment will likely dictate XRP’s direction. Bullish divergence on lower timeframes is seen as the signal that XRP may finally be ready for its next rally. Until then, hesitation at macro resistance implies more tests of downside supports.
The resistance levels of $2.79, $3.00, and $3.25 are expected to be cleared without pause once XRP begins a true Wave 3 run. Until that breakout happens, traders remain on alert for possible dips before momentum shifts upward again.
The post XRP Bulls Cornered as $3 Wall Holds: $2.79 and $2.58 Now in Play? appeared first on Blockonomi.
Source: https://blockonomi.com/xrp-bulls-cornered-as-3-wall-holds-2-79-and-2-58-now-in-play/