XRP price holds a crucial level needed to form bullish patterns. The 21-period Exponential Moving Average functions as a significant obstacle at $2.67.
A breakout crossing above this resistance mark would serve as a heavyweight indicator in establishing bullish short-term market sentiment.
A breach of this price point by buyers creates an opportunity to transform market dynamics in an upward direction.
Over time, the XRP price has reached stability through its trend direction using the essential 21 EMA dynamic support and resistance indicator.
A price unable to sustain positions above the indicator suggests increased probabilities for additional price declines or prolonged horizontal movements.
Future market movements will demonstrate whether the XRP price maintains a level of buyer support above this critical resistance.
Resistance at $2.81 Remains a Key Barrier for Further Gains
Market Analyst Egrag Crypto notes that the significant resistance level for the XRP price exists at $2.81 where it intersects the 0.702 Fibonacci retracement level.
Current trading sessions have repeatedly tested this resistance level and it remains unbroken.
A sustained rally above the current resistance would demonstrate rising bullish momentum to attract new buyer participation.
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More so, a successful break above $2.81 will enable XRP price to progress toward higher price points with $2.96 establishing the following main resistance level.
Price action can be influenced by this technical barrier located at the 0.786 Fibonacci retracement level.
The cryptocurrency will continue its upward trend and retest previous high levels when it surpasses these resistance points.
Potential Scenarios If XRP Price Fails to Hold Above $2.67
However, the failure of the XRP price to stay above the $2.67 mark at the 21 EMA will significantly boost the chances of market consolidation or additional price decline.
The cryptocurrency likely will challenge lower support zones starting from the 0.5 Fibonacci retracement level at $2.45 under current circumstances.
A price decline beyond $2.45 would expose the 0.382 Fibonacci retracement at $2.27.
XRP price movement depends strongly on both market sentiment and trading volume activity.
A shortage of buyers pushing the price at critical support zones may continue to sustain a consolidation pattern between $2.00 and $2.67.
Developed buying momentum from these price levels might build a foundation to challenge existing resistance levels.
Meanwhile, supporting a bullish breakout, recent analysis highlights XRP consolidation below $3 as a precursor to price movement, potentially reaching $5.85 in the next wave per Elliott Wave theory.
Key support levels at $2.36–$2.55 and favorable developments in the SEC lawsuit could propel XRP toward its $8 target.
