XRP Faces Critical Technical Level At $2.73 — Why It Matters

Over the last week, XRP slipped below the psychological $3 support level as it lost about 7.02% of its price ￰0￱ then, the altcoin has maintained a steady price consolidation around the $2.78-$2.79 region, without retesting the newly formed resistance level. Meanwhile, recent on-chain data has provided some cautionary market insights, highlighting a key support ￰1￱ Reading: Crypto Suffers Nearly $1 Billion In Liquidations As Bitcoin Extends Decline XRP Bulls Must Avoid Crash Below $2.73 – Here’s Why In an X post on September 27, crypto analyst Ali Martinez revealed the existence of a price gap sitting between the $2.73 and $2.51 price ￰2￱ to Martinez’s revelation is the UTXO Realized Price Distribution (URPD) metric, which specifies how much XRP was last transacted at different price levels, but in relation to its all-time ￰3￱ an extension of its primary function, the indicator quantifies trading activity across different price levels, therefore highlighting potential support and resistance ￰4￱ to the chart shared by Martinez, there is considerable trading activity across several XRP’s price zones.

However, there is a price range closest to its current value at $2.78, within which there has been very little trading ￰5￱ price range, set between $2.51 and $2.73, comprises relatively less market activity, creating what Martinez describes as a price gap, where little support or resistance ￰6￱ higher boundary of the price gap is at the $2.73 level, where about 1.60 billion XRP were transacted. A fall below this price floor would likely result in a straight decline towards $2.51, as any little support lies between both price regions. Notably, XRP last touched $2.51 in ￰7￱ Reading: Chainlink Targets $22 As LINKBTC Shows Signs Of Reversal – Is The Next Rally Close?

XRP Price Outlook As of this writing, XRP is valued at about $2.78 despite a modest 0.78% gain in the last day. Meanwhile, the altcoin’s daily trading volume is down by 58.95% and valued at $3.02 ￰8￱ to CoinCodex, XRP is currently facing bearish sentiment, with traders showing caution amid subdued market conditions. Meanwhile, the Fear and Greed Index sits at 33, signaling fear and a lack of strong buying ￰9￱ the past 30 trading sessions, XRP has recorded 13 red days, underscoring the weakness in recent performance Despite this, price predictions suggest little volatility ahead, with no significant change expected in the next five days or over the coming ￰10￱ indicates that XRP may remain range-bound as investors await clearer market signals or ￰11￱ sentiment leaning negative, short-term traders may exercise caution, while long-term holders continue to monitor for potential shifts in broader crypto market ￰12￱ image from Flickr, chart from Tradingview