XRP remains under pressure as it trades near $2.25, slightly lower than last week’s price. Despite a recent rebound, analysts warn of a weak market structure, making it difficult for buyers to push the token above critical resistance levels. As of now, the market capitalization stands at approximately $135.76 billion, with $2.96 billion in XRP traded over the last 24 hours, indicating a significant drop in trading volume compared to prior days.
Market data from CoinMarketCap reveals that the circulating supply of XRP is close to 60.17 billion coins, while the total supply approaches 100 billion. Technical analysts from MakroVision describe the current chart structure as fragile, noting repeated failures to surpass a supply zone at around $2.48. Each attempt to reach this level has faced substantial selling pressure, preventing a sustained upward trend.
Earlier in the week, XRP had rallied to $2.55 but reversed course as sellers capitalized on the higher prices to close positions. Consequently, the market has formed lower highs and has entered a weak sideways phase below the resistance level. On the downside, XRP finds support close to $2.16, where buyers have stepped in multiple times.
MakroVision highlights this price zone as linked to the 0.382 Fibonacci retracement level, a point that many traders monitor. Despite this support, the reaction from buyers has been limited, and overall trading activity continues to diminish.
Market Dynamics and Future Projections
Analysts emphasize the importance of the $2.16 support level. As long as XRP remains above this mark, the market can avoid a deeper decline. Should sellers manage to push the price below this support, the next potential demand zone lies between $2.02 and $1.88. This lower range combines previous horizontal support with additional Fibonacci levels, making it a zone of interest for various trading strategies.
Until a significant move occurs, traders are treating $2.16 as near-term support and $2.48 as overhead resistance. MakroVision outlines a clear scenario for a return to strength in the XRP price. For buyers to regain momentum, they need to reclaim the $2.48 zone and maintain the token above this level. A breakout above this threshold could pave the way for a rise toward $2.65 and alter the trend’s character.
At present, the market sentiment remains cautious, with the range between $2.16 and $2.48 indicating a period of indecision. With technical indicators suggesting a fragile state, traders are keenly watching for developments in the coming days.
