The price of XRP has entered a phase of high tension during September, trading below key psychological levels and creating uncertainty among investors. The cryptocurrency has failed to consolidate sustained bullish momentum, facing strong resistance that threatens to trigger further declines if current supports fail to hold firm in the short term.
Technical analysis shows that the digital asset is at a crossroads. The price of XRP has been consistently rejected in the resistance zone near $2.90 and $3.00. Indicators such as the Relative Strength Index (RSI) are below the 50 level, which traditionally suggests dominance by sellers in the market. Additionally, the MACD is showing bearish signals, reinforcing the outlook of a possible continuation of the downward trend as long as buyer confidence is not restored.
The current situation cannot be analyzed in isolation. The pressure on the price of XRP is accentuated by a decrease in activity from large holders, who appear to be reducing their exposure. This factor, combined with the general trend of the cryptocurrency market, creates a challenging environment. The lack of an immediate positive catalyst has allowed the bearish narrative to gain ground, testing the resilience of critical support levels located around $2.80 and $2.71.
What are the prospects for XRP?
For investors, the scenario demands caution. A confirmed break below the immediate support of $2.70 could open the door to a deeper correction, with potential targets in the $2.65 zone. On the other hand, if buyers manage to defend these levels and overcome the $2.90 resistance, the price of XRP could attempt a recovery. However, volatility remains high, and the overall market sentiment will be decisive in defining the direction of the next major move.
In summary, the XRP is going through a period of consolidation with a clear bearish bias in the short term. The battle between buyers and sellers is being fought at very defined technical levels. The next step for the asset will depend on its ability to stay above its key supports and generate enough buying volume to break the current resistances. Otherwise, investors should prepare for a possible extension of the corrective phase in the coming weeks.
