TL;DR
- Ripple’s native token failed to take down the crucial resistance at $2.9, which could spell more trouble for the asset ahead, according to Ali Martinez.
- Another popular analyst also outlined XRP’s rather indecisive closure, but predicted a price surge if the same resistance is reclaimed.
XRP made the headlines in mid-July when it finally broke its 2018 all-time high and set a new one at $3.65. However, the following month and a half has been an evident downfall as the asset has not only failed to maintain its run but has also lost the coveted $3 support line.
It tried to breach it on a few occasions in the past several weeks, but to no avail. Moreover, the recent market-wide correction pushed it below $2.9, which, according to Martinez, is a vital step in returning to its bull run as reported before.
Since the beginning of the month, the bulls attempted two breakouts, but both were halted in their tracks at just under $2.9. As such, Martinez believes $2.7 is the next logical step on the way south.
CRYPTOWZRD also outlined XRP’s indecisiveness in the daily closure, indicating that the asset is at “its support territory.” The analyst predicted a big move north soon, but the XRP/BTC trading pair needs to garner some “bullish momentum.”
They also highlighted the $2.88 resistance as crucial in XRP’s road to recovery.
