• XRP is under pressure, trading below the 9-day DEMA and testing critical support near $2.78.
• Technicals show bearish momentum, though Elliott Wave levels suggest a possible bullish reversal.
• Holding $2.88 could set the stage for a move toward $3.41 if resistance zones break.

XRP is currently priced at $2.8755, slipping under the 9-day DEMA while pressing the lower Bollinger Band around $2.777. Momentum indicators remain weak. The RSI is at 42, leaning bearish, and the MACD histogram is showing deeper negative readings. This mix suggests sideways-to-downward movement unless buyers reclaim the $2.93 to $3.08 range.

The structure since late July highlights consistent lower highs after an earlier summer surge. Now, XRP sits in the lower zone of its recent trading band. The $2.93 moving average has turned into immediate resistance.

Any intraday recovery is likely to fade unless bulls manage a daily close above it. The 20-day SMA at $3.08 is the mean-reversion target if a bounce unfolds, but strong supply is expected there as momentum stays weak.

Also Read: XRP Bulls Defend $2.80 Support, Eyeing Explosive $3.10 Breakout

XRP Downside Risks and Support Zones

Price action indicates XRP “walking the band” across the lower Bollinger Band. Such action typically indicates a continuation of the trend rather than a steep reversal. Support continues at $2.78. Should that fail, support zones for the next reaction occur between $2.72 and $2.70, with a deeper correction into $2.62.

Resistance levels are well established as well. $2.93 is the initial barrier, then $3.08, and $3.20–$3.22. A higher likelihood exists that buyers make a comeback and strength reversals become positive, making the higher Bollinger Band at $3.38 a long-term target.

For bulls, the plan is obvious. Below $2.93, defensive mode prevails. A daily break over $3.08 would reduce bearish pressure and suggest neutral-to-bullish sentiment. Until that point, the trend is skewed bearish.

Elliott Wave View Brings Optimism

Market commentator CasiTrades predicted a more positive future. He noted XRP support at a .618 retracement level near $2.88, and in harmony with a textbook subwave 2 target in an Elliott wave pattern. According to her calculations, that area is crucial, as holding onto it keeps the possibility of subwave 3, typically the strongest leg of the cycle, in the cards.

Her chart lays out resistance at $3.41 as the next significant level. $3.21 is also called out as a critical marker by him. A break of it could precipitate a backtest prior to resumption higher. Should momentum hold true to form, the setup favors a rally over the present trading range and lays the groundwork for a move toward new highs.

Also Read: XRP ETF Approval Delayed by SEC with Possible Green Light in October