XRP Battles Resistance, Bitcoin Slips Below $96K

Ripple's XRP, the third-largest cryptocurrency, is currently grappling with critical resistance levels and has declined by over two percent in the past 24 hours. However, it has gained more than five percent on a weekly basis. Most of the top 10 coins have slipped into the red zone, with Bitcoin trading below $96,000.

Analyst Josh of Crypto World notes that XRP is following Bitcoin's price movements, a common trend among many altcoins. As Bitcoin faces a pullback, XRP also shows signs of weakness and may struggle to maintain its recent breakout above the resistance level of $2.58 to $2.73. If XRP closes a daily candle below $2.58, it could signal a bearish trend, potentially flipping the area back to resistance. However, a higher low above the previous low could still indicate a positive outlook for XRP.

Key support levels to watch include the range between $2.25 and $2.30. If XRP holds above this level, it could maintain a bullish structure. A further pullback could test the $2 support level. Additionally, smaller support zones, such as around $2.46 to $2.47, may provide some relief if previous resistance levels flip to support.

Despite the ongoing bearish divergence, the price action may be approaching a local low, which could trigger a relief rally in the coming days, especially as the price nears oversold territories on the 2-hour chart. However, XRP may still dip slightly lower before finding support. In the short term, more choppy sideways price action is expected, with the larger bearish divergence potentially continuing until invalidated.