XRP has slipped back toward the crucial $2.40 support level, stirring anticipation among traders ahead of the weekly close as momentum and sentiment hang in delicate balance.
Market watchers are now closely tracking whether the token can hold this foundation or risk another downward phase that could test broader investor confidence.
After rallying above $2.60 earlier this month, the XRP price today reflects a period of consolidation following weeks of strong volatility across the crypto market. The digital asset’s movement near this key level has drawn renewed focus from technical analysts, who see the $2.40 threshold as a pivotal marker that could determine the direction of Ripple’s native token in the coming days.
XRP Hovers Near Crucial $2.40 Level
The XRP current price has been fluctuating within the $2.35–$2.45 range over the past 48 hours, signaling indecision between buyers and sellers. This zone has emerged as a key battleground, with bulls attempting to defend the $2.40 support that previously acted as a springboard for short-term rebounds. A decisive close above $2.50 could strengthen the case for renewed upside momentum heading into November.
XRP was trading at around $2.42, down 6.16% the last 24 hours at press time. Source: XRP price via Brave New Coin
However, if XRP fails to maintain this threshold, analysts warn that a correction toward the $2.00 region may follow, potentially bringing the price of XRP back to mid-September levels. This would represent a temporary setback for traders who had expected a breakout beyond $2.80 earlier this week. According to on-chain data, XRP’s liquidity clusters are forming tightly around the $2.40 range, suggesting that large players are accumulating positions while waiting for directional clarity.
Traders Eye Resistance Zones Around $2.60–$2.80
While $2.40 remains the dominant short-term support, resistance has formed near the $2.60–$2.80 range. The XRP price chart shows multiple failed attempts to close above $2.70, where selling pressure tends to intensify. Breaking through this ceiling could open the door for a rally toward $3.00, a psychological barrier that has capped XRP’s progress for months.
A 1-hour XRP/USDT chart highlights $2.80 as key resistance, with the price up 38% from $1.90 lows amid a recovery from August’s descending trendlines. Source: Ali Martinez via X
Several traders on social platforms have expressed optimism that renewed institutional inflows could strengthen Ripple XRP’s market position in the coming weeks. Momentum indicators, including the Relative Strength Index (RSI), remain neutral, hinting that a sharp move in either direction could occur before the weekend. Still, maintaining volume above average levels remains key for confirming any meaningful breakout.
Market Fundamentals and Broader Sentiment
Beyond technicals, fundamental factors are also shaping XRP news today. Ripple’s continued expansion into cross-border payment networks and its recent progress following the XRP SEC lawsuit have improved investor confidence. Market observers suggest that regulatory clarity may act as a long-term catalyst, especially as discussions surrounding potential XRP ETF approval resurface within the crypto community.
On the other hand, broader crypto sentiment has been mixed. Bitcoin and Ethereum’s recent sideways trading patterns have tempered risk appetite, influencing smaller assets like XRP. However, analysts argue that XRP’s resilience around $2.40 demonstrates underlying strength and potential accumulation by long-term holders preparing for future developments, including institutional partnerships and upcoming Ripple ecosystem upgrades.
Outlook: Key Levels Before the Weekly Close
As the week approaches its end, XRP’s behavior around the $2.40 zone will likely dictate its near-term trajectory. Holding above this level may encourage a rebound toward $2.60 and possibly $2.80 if momentum builds. A sustained breakout beyond those barriers could trigger the next bullish wave, potentially setting XRP on course for its next milestone target near $3.20.
A potential Death Cross could trigger a short-term dip toward $2.35, while sustained investor confidence and a breakout above $2.64 may drive XRP toward $2.85. Source: BeInCrypto on TradingView
Conversely, a daily close below $2.40 would expose the XRP coin price to further weakness, with support expected near $2.35 and then $1.94. Traders are advised to watch for volume spikes and candle closes on the daily chart, as they could indicate whether bulls or bears have seized control heading into November.
In summary, XRP price prediction models suggest that the token’s short-term fate hinges on the strength of its $2.40 support zone. Whether this level holds or breaks could set the tone for the coming week’s trading action. With regulatory developments easing and the broader crypto market stabilizing, XRP’s performance this weekend may offer crucial insight into how confident investors remain in its long-term trajectory toward higher valuations.