XRP price struggles to hold key levels despite broader market strength, raising concerns about a potential pullback.
Summary
- XRP price struggles below $3 despite the crypto market uptick.
- Institutional demand and pending XRP ETF reviews have fueled optimism, yet momentum remains too weak to sustain an extended rally.
- Santiment data shows rising FUD, with more bearish comments than bullish surrounding the token.
Trading around $2.97 at the time of writing, XRP price is down 0.62% in the last 24 hours, according to crypto.news data. Though the token remains up a modest 4% over the past week, its recent price action has been muted.
XRP (XRP) had previously surged alongside major assets like Bitcoin (BTC) and Ethereum (ETH), briefly pushing back above $3 before being rejected at resistance. Sell pressure quickly returned, causing the Ripple token price to dip back even as sentiment for crypto remains bullish overall.
Though growing institutional activity led by VivoPower’s planned $19 million XRP treasury and seven pending ETF filings had sparked short-term optimism, they weren’t enough to translate into sustained upward pressure.
Can XRP price find support and push higher?
Currently, social sentiment around XRP has turned bearish. According to an October 7 Santiment data, the token is experiencing its highest level of FUD since major market events six months ago. The analysis noted that there have been more bearish than bullish comments from retail traders for the past two to three days, aligning with the decline in price.
This pattern historically signals a possible turnaround, as markets tend to move in the opposite direction of excessive small trader pessimism. Against this backdrop, XRP price outlook depends largely on how it behaves around key technical levels in the near term.
Momentum indicators are mixed. The MACD (Moving Average Convergence Divergence) is slightly positive, with the MACD line just above the signal line. This suggests modest bullish momentum building, but the signal remains weak.
The most important support line is the 200-day moving average, currently near $2.58, which has historically acted as a strong base for XRP during market fluctuations. If XRP continues to hold above this support and buyer interest remains steady, renewed upward momentum may return.
To confirm a bullish breakout, the price needs to decisively close above the $3.15 resistance level, which was a previous zone of consolidation and rejection. Surpassing this barrier on solid volume would likely ignite buying interest that could push XRP towards $3.66 and potentially higher targets, depending on overall crypto market conditions.
On the flip side, if XRP fails to maintain support around the 200-day moving average and the $2.70–$2.90 range, there may be a period of consolidation or even additional downside risk. A breakdown below key supports could trigger further losses, dragging the price lower toward $2.50 or below.
