XRP Price Under Pressure: These Key Levels Hold The Fate Of A New Record Or A Drop Below $2

In stark contrast to the broader resurgence in the cryptocurrency market, where many assets are approaching or exceeding record highs, the XRP price finds itself in a precarious ￰0￱ altcoin has consistently failed to breach its nearest resistance level at $3, resulting in a retracement to crucial support levels that are vital for preventing a significant correction and further ￰1￱ Price Struggles As Bitcoin Hits New High While Bitcoin (BTC) recently celebrated a new all-time high above $126,000, Ethereum (ETH) is inching closer to its own record of $4,900, and Binance Coin (BNB) mirrors Bitcoin’s ascent with prices rising above $1,300, XRP has faced a nearly 4% ￰2￱ Reading: Is A $10,000 Ethereum Price Within Reach?

Here’s What Experts Are Forecasting Next Market expert Lark Davis expressed his concern on social media site X (formerly Twitter), stating that the XRP price has been unable to find its footing, repeatedly getting pushed down in its attempts to break the descending resistance ￰3￱ emphasized that a successful break above the orange line just above the current trading price could open the door to a target of $4, which would mean a new all-time high for the XRP price. However, Davis cautioned that failure to achieve this could necessitate reliance on the 20-day exponential moving average (EMA) at $2.94. Currently, XRP is trading at $2.92, just below this critical level, further accentuating the lack of bullish momentum.

A sustained drop below this point could lead to further declines toward nearby support levels, with $2.77 emerging as a significant threshold on the daily ￰4￱ $2.60 mark also becomes increasingly ￰5￱ this level be tested, it could prevent a major collapse toward $2.22, a pivotal consolidation point since June that preceded XRP’s surge to over $3.60 in ￰6￱ the contrary, if this support breaks, the $2 mark could be in jeopardy for the remainder of the ￰7￱ Consolidation Lead To A Breakout? Despite these challenges, some analysts remain optimistic about the XRP price ￰8￱ Crypto, a market analyst recognized for bullish forecasts on the altcoin, shared an encouraging outlook on social ￰9￱ highlighted the potential for an October breakout, based on mathematical projections and historical breakout ￰10￱ pointed out that an ascending triangle typically breaks out around the 70-80% mark of its ￰11￱ to his analysis, if the XRP price continues to consolidate within this triangle pattern between $2.6 and $3.6, traders can anticipate a breakout as it approaches 70% to 80% of its ￰12￱ Reading: BNB Price Hits $1,240 Record High: Partners With Chainlink For On-Chain US Economic Data Despite the uncertainty surrounding XRP’s immediate performance, the $3 resistance level remains pivotal for initiating a new uptrend and reclaiming its position against BNB as the third-largest cryptocurrency by market capitalization.

Currently, XRP has slipped to the fourth spot, having been overtaken by Binance ￰13￱ coming days will be crucial in determining whether the XRP price can overcome its challenges and regain momentum in this competitive ￰14￱ image from DALL-E, chart from ￰15￱