XRP Support at $2.8 Crucial for Stability, Experts Warn
Analysts say XRP support at $2.8 is critical for the token’s short-term trend. Fail to hold this level, and XRP could slide deeper, mirroring other altcoins’ pullbacks. Joe Swanson notes repeated tests of the $2.8 area, with a failure below this mark invalidating recent gains and risking a 6% drop. EGRAG Crypto counters that levels down to $2.65 remain intact, leaving the market neutral until a breach below $2.65 or climb above $3.65. CryptoInsightUK is more bullish, highlighting strong liquidity between $3.1 and $3.7 that could fuel a rally toward $4.2. Despite SEC case resolution and spot ETF updates, XRP support at $2.8 stands as a key indicator. Traders should watch this threshold to gauge market direction and manage risk.
Bearish
XRP support at $2.8 is a decisive technical threshold. Historical patterns show that when a crypto asset breaks a key support, it often triggers accelerated selling, as seen with Bitcoin’s drop after losing $30,000 in 2021. Joe Swanson’s warning underscores the risk of a 6% decline if $2.8 fails. Although some analysts view $2.65 as a secondary buffer, the prevailing sentiment tilts toward caution. In the short term, traders may reduce long positions to mitigate losses, increasing sell pressure. Over the longer term, stability above support could restore confidence, but a breach may delay recovery and dampen bullish momentum. This mix of technical signals and market psychology suggests a bearish impact unless key levels hold.