XRP Consolidates At $2.98 As Resistance Holds and Support Retest Defines Market Direction

XRP is currently trading at $2.98 with a market cap of 227 billion, even after a 7.5% 7-day loss due to resistance congestion at 3.14.

The support of $2.95 has become a crucial point, and the fact that it has been tested many times indicates the fragility of the situation.

The selling pressure remains high, and downside momentum represents strong selling pressure, as 40.466 million XRP traded in 24 hours confirms.

XRP is trading below the $3 mark and its recent price drop has continued, with sellers driving the price down to new short-term lows. Its value has dropped by 7.5% in the past week and is currently at $2.98. Market evidence shows that the selling pressure aggravated following the continued failure attempts around the resistance region. Recent energy emphasizes the significance of the area of support at $2.95, which is now the main buyer priority.

XRP Faces Renewed Pressure After Resistance Rejection

In the last few sessions, XRP saw its maximum of $3.14, where resistance was very sturdy to prevent any further gains. The rejection created fresh downside pressure, which drove the prices down across the week. Notably, the inability to maintain traction above the $3 zone provided sellers with the upper hand. With momentum reversing, the asset is now testing its immediate support levels.

XRP is showcasing a strategic move towards the $2.95 support zone, its lowest point of the recently established $2.95 to $3.14 24-hour range as the market started weakening. This level has become increasingly important as volume builds around the lower boundary. However, the repeated tests suggest that buyers must act decisively to prevent a deeper decline. Market observers are closely monitoring whether this level stabilizes price action in the short term.

Price Action Turns to Short-Term Downside

With sellers in control, XRP has been unable to recover above $3, and momentum remains directed toward the downside. The hourly chart highlights consecutive red candles, marking sustained selling pressure through the latest sessions. Furthermore, the trading volume of 40.466 million XRP over 24 hours underscores the intensity of the ongoing move

While resistance at $3.14 continues to hold firm, the lower end near $2.95 remains the critical level in focus. XRP remains under pressure as price trades below $3, with $2.95 acting as critical support while resistance at $3.14 limits recovery, leaving short-term direction dependent on key levels.