XRP Bulls and Bears Clash at Crucial Juncture

XRP Price at a Pivotal Moment as Bulls and Bears Battle for Dominance

The price of XRP has reached a critical juncture, with bulls and bears locked in a fierce battle for supremacy. The cryptocurrency's inclusion in the crypto strategic reserve has sparked a significant rally, with the price clearing resistance zones at $2.27 and $2.89. However, the bears have since reasserted their influence, pushing the price back below $2.35.

The bulls are currently attempting to push the price above the previous day's close, but the bears are applying considerable pressure, keeping the price below the crucial $2.35 level. The question on everyone's mind is whether XRP will lose its pivotal support at $2 or reclaim its lost dominance and challenge immediate resistance.

The price of XRP has broken above lower highs and lows, but a subsequent rejection has seen the token revert to its previous pattern. The bears appear to have a tight grip on the rally, suggesting a bearish outlook for the cryptocurrency. An entry into the demand zone could attract significant liquidity, which is necessary to push the price beyond $2.8. However, technical indicators have turned bearish, activating the lower targets zone between $2 and $1.96.

The daily chart of XRP suggests that the bulls are defending the local support at $2.272. However, in the broader context, the bears seem to be preparing for a significant price action. The price has reached the lower bands of the Gaussian channel, which has turned bearish. A drop below this range could confirm a price decline to the bottoms. Meanwhile, the MACD, which is in the negative range, is on the verge of a bearish crossover after a brief bullish flip.

As a result, the price of XRP continues to be under significant bearish influence and could potentially drop to $2 or levels slightly below the range. However, a rise above $2.5 could delay the bearish action, while a surge above $2.8 could eliminate the bearish possibility altogether. Recent developments, such as the SEC dropping investigations and lawsuits on multiple crypto platforms, have raised speculation about a potential closure of the lawsuit with the SEC. However, analysts and XRP proponents believe that it may take another couple of months for the price to maintain a slow yet