XRP faces key resistance at $2.23

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

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Technical analysis & market mechanics

• XRP is currently sitting at $2.00, a major psychological level and key range low with multiple wicks confirming buyer interest.
• Local resistance is identified at $2.23, marking the immediate upside cap for short-term momentum.
• Higher resistance levels sit at $2.355 and $2.480, forming the key short entry zone if price trends upward.
• RSI is trending near 40, neutral territory - not overbought or oversold, but showing signs of a downtrend, which means we may begin to see signs of bottoming out in price in the shorter term.
• Minor support at $1.78 may offer a temporary bounce if $2.00 fails.
• Stronger downside levels rest at $1.50 and $1.30, aligning with historical structural demand zones.
• $1.30 marks the 61.8% retracement from the cycle move - a healthy correction if achieved.

• Next Support: $2.000
• Next Resistance: $2.2300
• Direction: Bullish
• Upside Target: $2.7300
• Downside Target: $1.300

Cryptonary's take

We're looking to scale into shorts at $2.36, $2.48, and $2.588 as the price pushes higher. This region marks our key selling zone. We expect the $2.00 support to hold in the short term, allowing the price to move higher before rolling over.

Once that upside move is complete, we anticipate a breakdown targeting $1.50 and $1.30. The plan is simple - wait for upside levels to get filled, then execute.