XRP at the Crossroads of Life and Death: Will the Bears or the Bulls Win?

In a recent post on X, market analyst Andrew Griffiths pointed out that XRP has faced significant rejections at two consecutive resistance levels, first near $2.65, then another rejection at $2.57. The inability to hold above $2.57 in the second attempt is particularly significant, as it indicates that sellers may have entered earlier, defending lower levels. This pattern increases the risk of a deeper pullback if bullish support does not return to the market soon. The divergence of volume and price at the resistance level To provide additional context for his recent analysis of XRP, Andrew Griffiths highlighted a significant divergence in volume between recent highs, which may signal a potential weakening in bullish momentum. When XRP reached higher price levels in the past few days, the accompanying trading volume gradually decreased, indicating that market enthusiasm for higher prices is waning. This volume-price divergence raises concerns that the upward momentum may not be sustainable without further support. Griffiths emphasized that the Relative Strength Index (RSI) still indicates there may be further upside potential for XRP. The RSI remains in the favorable zone, suggesting the market may continue to experience upward pressure, especially if it can break through certain resistance levels.

However, Griffiths also expressed caution, acknowledging that while the RSI indicates bullish potential, weakening volume makes him hesitant to fully commit to the bullish side at this moment. He emphasized the need for confirmation, through stronger buying volume or more sustainable price movements. If XRP cannot maintain its current price level, Griffiths believes that the likelihood of the price returning to previous trend areas is very high, where the price may find support and consolidate. Such a move does not necessarily signal the end of the bullish trend but rather indicates an opportunity for a better entry at lower levels. The rejection of XRP signals increasing instability among traders. Andrew Griffiths concluded his analysis by emphasizing that uncertainty currently dominates the market, making it difficult to predict the immediate direction of XRP's price action. Although this cryptocurrency has experienced some upward movements, mixed signals from volume divergence and resistance level rejection have created a situation where both bulls and bears seem to be completely out of control. Regarding important levels, Griffiths identifies $2.37 as an important short-term support level that could provide stability if the price begins to drop. This level has previously served as an important support point during previous pullbacks. If the price remains above this support level, there is still a possibility for a consolidation phase or a continuation of the upward trend if buying pressure returns. However, if XRP cannot defend this important level, it may signal downside risk, with a move towards the next support levels.