XRP News Today: XRP Stuck at $2.84 Resistance as Bears Target $2.50 Support Zone

XRP is currently facing significant resistance near the $2.84 level, with traders closely watching whether the price will break through or face rejection. The 4-hour chart shows XRP hovering within a bearish supply zone between $2.80 and $2.90, a critical area where selling pressure tends to dominate. Technical analyst Kamran Asghar notes that if the coin fails to maintain this level, it could fall sharply toward $2.50 [1]. This zone is also known as a Fair Value Gap, suggesting a high probability of bearish activity.

The current price of $2.8412 has seen minimal gains in the last four hours, but the broader trend remains bearish. XRP surged to nearly $3.60 in July but has since declined steadily, forming a distribution pattern that analysts often associate with large holders offloading their positions [1]. The chart also indicates a Break of Structure (BOS), signaling a shift from bullish to bearish momentum.

A breakdown below the $2.50–$2.60 support zone could trigger algorithmic selling and cascade losses as stop-loss orders are activated [1]. Traders are bracing for increased volatility in the near term as market sentiment leans toward caution.

Despite the immediate bearish pressure, some analysts remain cautiously optimistic about XRP’s long-term potential. Egrag Crypto highlights that while the near-term outlook is weak, the asset is building toward what could be a final, explosive upward move. Using both log and non-log price scaling, Egrag forecasts a possible price range between $4.89 and $48.90, with an average target of $27.00 [1]. This projection assumes that XRP continues to hold key historical trendlines, which have historically acted as strong support levels.

The market remains divided between short-term bearish expectations and long-term bullish hopes. The coming days will be crucial in determining which side prevails, as XRP sits at a crossroads between a potential rapid decline or a setup for a significant reversal. Investors and traders are advised to monitor key support and resistance levels closely.

Source: [1] XRP Struggles at $2.84 as Bears Loom and Bulls Hope for Rally (https://cryptofrontnews.com/xrp-struggles-at-2-84-as-bears-loom-and-bulls-hope-for-rally/)