XRP Price Faces Key Support and Resistance Levels Amid Market Uncertainty

In my view, the recent XRP price action reflects a complex interplay of market dynamics, where bullish enthusiasm has been tempered by declining trading volume, indicating waning buying interest despite the recent rally. The surge above 2024 highs was driven by significant buying activity, but the resistance encountered suggests that many bulls are now trapped at higher levels, risking a potential reversal if bullish momentum does not reassert itself. The notable drop in trading volume, from over $78 billion during previous peak prices to around $41 billion at recent highs, signals that conviction among buyers has diminished. Yet, interestingly, the absence of strong selling pressure implies that the market sentiment is currently neutral, with neither buyers nor sellers dominating the scene. This could suggest a consolidation phase or a potential for a rebound if buyer interest revives. On the bearish side, the analyst’s warning about the necessity of strong buying support is valid; without it, XRP risks retreating toward lower support levels, with potential declines toward $3.13, $2.95, and even as low as $2.15-$2.3, which the analyst considers an attractive entry point. The possibility of a further decline to the $1.60-$1.93 range remains possible if the selling pressure intensifies, though such levels might attract value-based investors. Overall, XRP’s price could either recover if buying interest picks up or decline further if momentum wanes. The key factor will be whether market participants can sustain upward momentum or if the lack of conviction leads to a deeper correction. Investors should monitor volume patterns and market sentiment closely for clues about the next major move in XRP.