 ▲ XRP / ChatGPT-generated image |
XRP has failed to sustain its recovery above $1.40 and is now facing the risk of losing further upward momentum after encountering a strong resistance wall.
According to cryptocurrency-focused media outlet NewsBTC on March 2 (local time), XRP recently rebounded from the $1.30 support level and entered a short-term recovery phase, but it was unable to break through resistance near $1.42. Unlike Bitcoin (BTC) and Ethereum (ETH), which are showing solid performance, XRP is struggling to establish itself above $1.40 and is currently trading below its 100-hour simple moving average. In particular, the upward trend formed after breaking the $1.36 resistance level on the hourly chart was capped near $1.42, increasing downward pressure.
From a technical analysis perspective, the 61.8% Fibonacci retracement level at $1.4080 has emerged as a key barrier limiting bullish entry. XRP is currently trading below $1.3880, and the Moving Average Convergence Divergence (MACD) indicator is gradually losing strength in bullish territory, signaling the possibility of a bearish reversal. Market analysts suggest that if XRP fails to clearly break above the $1.42 resistance and close above it, disappointment-driven selling could intensify, deepening the short-term correction.
Whether XRP can defend its lower support levels will be a critical factor in determining its price direction. The first support level is currently located around $1.3820. If this level fails to hold, there is a risk of accelerated declines below the 50% Fibonacci retracement level, potentially increasing downward momentum. Should the key support levels at $1.3430 and $1.32 also collapse, the recent recovery would be completely nullified, with a strong likelihood of a sharp drop back to the low $1.30 range. As bearish forces begin to take control, it is becoming urgent for buyers to establish a firm defensive line.
For a bullish scenario to unfold, XRP must first break above $1.44 and then reclaim the $1.50 level to pave the way for a longer-term rally. Amid rising volatility across the broader digital asset market, XRP remains trapped within a specific price range as it searches for direction. The Relative Strength Index (RSI) is also trending downward from neutral territory, raising warnings that failure to defend current levels could trigger large-scale liquidations. Investors are closely monitoring whether key support levels will hold and are maintaining a cautious approach.
This failure to break above resistance is interpreted as a temporary overload caused by insufficient buying pressure within the market. Despite Bitcoin attempting to reclaim the $70,000 level and leading overall market sentiment, XRP’s inability to demonstrate independent strength is weighing on investor confidence. If XRP fails to regain the $1.4080 level in the coming days, its price trend is expected to remain in a downward trajectory for the time being.
Disclaimer: This article is provided for investment reference purposes only and we are not responsible for any investment losses incurred based on its contents. The information should be interpreted for informational purposes only.