- Analysts identify $2.90 as critical resistance where XRP could face rejection that may lead to a correction.
- The $2.70 level is highlighted as major support that could either hold or break under selling pressure.
- Traders debate if XRP will build strength above $2.90 or reverse quickly back into the $2.70 zone.
A chart shared on September 6 suggested XRP could face strong rejection at $2.90, which might drive prices back toward $2.70. The analysis highlighted the $2.90 level as a key resistance zone where sellers have repeatedly slowed upward momentum.
$2.90 Identified as Critical Resistance Level
The hourly chart for XRP/USDT on Binance showed price action consolidating between support and resistance. At the center of this structure lies $2.90, considered a major barrier for upward continuation. Traders noted that past attempts to break this threshold ended with quick reversals.
The chart further illustrated projected scenarios. If XRP rejects the $2.90 level, it could retrace sharply toward $2.70. This move would mark a decline of roughly 7% from current levels near $2.84. The path to $2.70 appeared likely in the event of weakening demand or heavier selling volume.
The analysis also underscored volatility risk. Resistance areas often create whipsaw moves, trapping buyers who enter too early and forcing liquidations in leveraged markets. With XRP’s recent climb, positioning around $2.90 became increasingly cautious.
$2.70 Highlighted as Key Support Zone
While the spotlight remained on resistance, the $2.70 level emerged as the key support zone. According to the chart, if rejection occurs at $2.90, XRP may stabilize at this level before either rebounding or breaking lower.
Market watchers pointed to the importance of $2.70 as a structural pivot. Holding this level could attract buyers seeking discounted entries, thereby setting up a healthier base for another push higher. Conversely, losing $2.70 could open the door for deeper downside targets.
The chart suggested that a break below $2.70 could extend losses significantly. Dotted projections indicated potential declines toward the $2.60–$2.65 range, intensifying bearish sentiment. Such a move would likely shift near-term market bias and erode bullish conviction.
The interplay between $2.90 and $2.70, therefore, forms the immediate battleground. Traders continue to monitor order flow and liquidity in these areas, as reactions here could define XRP’s trajectory for the next sessions.
Market Outlook and Trader Reactions
The analysis quickly circulated across trading communities, sparking discussions about short-term expectations for XRP. Many agreed that $2.90 represents formidable resistance. Others stressed that repeated testing of the same level often precedes a breakout.
Social media comments highlighted the uncertainty. Some traders believed that rejection from $2.90 could lead to steep drops, citing prior historical patterns. Others argued that if XRP eventually clears this threshold, momentum could carry it beyond $3.00, with projections pointing toward $3.20 as the next upside objective.
This divergence of views highlighted the risk-reward dilemma. Positioning before a confirmed breakout exposes traders to rejection scenarios. Waiting for confirmation may reduce potential profits, but avoids unnecessary losses.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed