XRP Price Technical Analysis: What’s Next After $2.98 Support Test?
The XRP price is hovering around the mid-$2.90 range, with price action caught between strong support and resistance levels.
The daily chart shows a tug-of-war between buyers defending critical bids and sellers reinforcing heavy asks, signaling a potential breakout on either side in the coming sessions.
XRP Price Technical Overview
Momentum indicators are currently neutral to slightly bearish.
The RSI sits just below the midpoint, suggesting that neither buyers nor sellers have firm control. The MACD remains in negative territory, reflecting lingering bearish momentum, though its histogram shows some signs of easing pressure, hinting at a potential recovery attempt.
Daily chart for XRP/USD (Source: GeckoTerminal)
Short-term moving averages highlight indecision. The 9-day EMA has slipped below the 20-day EMA, a mild bearish crossover, yet the gap remains narrow, meaning a quick recovery above $3.00 could flip the short-term outlook back in favor of the bulls. Sustained closes below the EMAs, however, would confirm downside continuation.
Order Book Dynamics
The order book for the XRP price reveals heavy clustering around key psychological levels.
On the downside, a large bid wall at $2.98—holding over 470,000 units—has been absorbing sell pressure, acting as a frontline defense. Should this wall give way, the XRP price could see a quick 0.21% dip, with deeper exposure toward the $2.95 and $2.90 bid walls, where losses could accelerate to nearly 3%.
Below that, the technical support at $2.8519 becomes pivotal, with further risk down to $2.77 and ultimately $2.35 if broader sentiment deteriorates.
On the upside, resistance is stacked closely. An ask wall at $2.9959 is the first obstacle, followed by another at $3.0040. Clearing these relatively small barriers could open a move toward the larger wall at $3.08, which, if absorbed, may push the XRP price toward $3.1276—its first major resistance. A breakout there would shift attention toward $3.29 and $3.31.
Trading Strategy Outlook
For long traders, accumulation near the $2.95–$2.98 range offers favorable risk-reward if bid walls hold. A sustained break above $3.08 could serve as a bullish confirmation, with upside targets toward $3.12 and higher. Stops should be considered just below $2.85 to manage downside exposure.
For shorts, fading rallies near $3.08 or $3.12 could provide opportunities, especially if momentum indicators remain soft and ask walls hold. Breakdowns below $2.95 would strengthen the bearish case, with deeper targets aligning with $2.85 and $2.77 support levels.
Conclusion
The XRP price remains locked in consolidation, with the battle between bid support and ask resistance dictating short-term direction. A decisive break of either side of the order book clusters will likely set the tone for the next significant move.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred. Readers should exercise caution before acting on this content.
