XRP Price Faces Bear Trap Below $2.92, Risks Further Drop
XRP price fell below the key $2.920 support and its 50-day moving average, signaling a potential bear trap. After breaking down from the $3.150 resistance zone and slipping under $3.00, XRP is now finding interim support near $2.70. Immediate barriers for a recovery rally stand at $2.880 and $2.920, with a critical trend line around $2.98–$3.00. A sustained close above $3.00 and the 50-day MA at $3.10 is required to shift momentum and target higher resistance levels at $3.28, $3.35 and $3.45.
On the downside, failure to reclaim $3.00 could drive XRP price toward the 61.8% Fibonacci retracement near $2.58, followed by supports at $2.50, $2.42 and $2.20. Traders should monitor these support and resistance levels closely. Overall, XRP price remains under bearish pressure until it secures a clear breakout above key thresholds.
Bearish
XRP’s breach of the $2.920 support and the 50-day moving average highlights growing bearish momentum. Similar breakdowns in December 2024 and March 2025 led to accelerated sell-offs once key Fib levels failed to hold, reinforcing the risk of further downside. Short-term traders face resistance at $2.88–$3.00; failure to reclaim these zones could trigger a drop to $2.58 and lower. While a close above $3.10 could spark a reversal, current price action favors continued selling pressure. In the long run, a decisive break above the 50-day MA and trend line would be needed to shift sentiment, but absent clear bullish catalysts, the outlook remains negative.