Key Support and Resistance Levels to Watch

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XRP is today’s top performer from the larger-cap alts.

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Summarize with AI

After a violent and painful week in which XRP’s price tumbled from $2.30 to a multi-week low of just over $1.80, the asset has now bounced above $2.00 for the first time since Friday morning.

At the same time, analysts outlined the next potential moves and the most important support and resistance lines.

If Ripple’s token continues its ascent, the next major sell wall is situated at $2.6, according to CW. To reach those levels, though, XRP needs to decisively overcome the current sell wall located between $2.00 and $2.10, which is now being tested.

CRYPTOWZRD supported this narrative, indicating that the asset needs to decisively close above the current range to change the negative sentiment and send it higher. However, they warned that if XRP fails to reclaim the $2.08 level, it could head further south.

If it does, then the first line of defense could be at around $1.75 – just inches below the recent bottom. According to Ali Martinez, 1.8 billion tokens were accumulated at approximately that level, which makes it a “key support area.”

Crypto Tony was also on the bearish side, suggesting that Ripple’s cross-border token could be heading for another correction. In fact, his chart outlined the worst-case scenario, which includes a price breakdown below the support marked by Martinez and a drop all the way down to $1.50.