XRP at Crossroads: $2.80 Breakdown or Bullish Rebo

XRP at Crossroads: $2.80 Breakdown or Bullish Rebound?

Providing further insights into XRP’s market structure, crypto trader and chartist Crypto Job shared a technical analysis outlining the token’s current price dynamics. According to his assessment, XRP’s daily chart remains in a neutral zone, suggesting indecision among traders. However, the 4-hour chart indicates a shift toward bearish momentum, signaling increasing selling pressure in the short term.

Conversely, XRP is experiencing solid resistance in the range of $3.30 to $3.310. A close above that would be needed to validate the prospect of a bullish reversal. Until that happens, the token is range-bound, with market players intently observing the evolution of price action around these critical levels.

Crypto Job highlighted the significance of these technical levels in deciding XRP’s next course of action. A dip below $2.80 will speed up losses, but a rebound from this region will stimulate a bullish turn around, more so considering that there is a strong demand zone.