XRP Faces Resistance Near $2.60 as Analysts Eye $2.00 Rebound Zone for Market Stability

XRP trades at $2.49 within a descending channel, with key support seen near the $2.00 level.

Analysts identify Fibonacci targets at $8.5, $13.7, and $27.4 once XRP clears major resistance zones.

ETF filings and projected $8B inflows strengthen XRP’s outlook despite short-term volatility pressures.

At the time of writing, XRP was trading at $2.49 after failing to sustain gains above the $2.60 level. The token has been moving within a descending structure on the daily timeframe, facing repeated rejections near resistance zones. Analysts observe that XRP could find strong support around the $2.00 level, where buyers have previously defended price action during similar market phases.

Technical Signals Point Toward a $2 Rebound Zone

According to analysis prepared by Ali Charts, XRP continues to trade within a clearly defined downward channel. The token recently faced resistance near $2.60 and $3.30 after forming several lower highs, showing weakening momentum since early October. Current projections indicate possible movement toward the $2.00 region, where support levels near $2.10 and $1.95 remain active.

XRP’s 24-hour range between $2.40 and $2.52, reflecting steady market participation despite subdued volatility. Volume spikes have been observed during sell-offs, suggesting increased trading activity during retracement phases. Historical trends show that XRP has often rebounded after testing the $2.00 support level, signaling this zone’s relevance for upcoming price stability.

Source: ChartNerd(X)

ChartNerd noted that XRP’s long-term structure resembles earlier market cycles where consolidation preceded upward movements. The analysis mentioned Fibonacci targets at $8.5, $13.7, and $27.4 once key resistance zones are cleared. RSI indicators are close to 68, and this shows that the market has been strong despite recent declines to 95 and above caused by overbought status.

ETF Developments and Market Expectations

The ongoing XRP price movement comes as expectations rise over potential ETF approvals. According to Bloomberg’s Eric Balchunas, Bitwise recently updated its filing to include NYSE listing details and a 0.34% management fee. This update is often regarded as one of the final steps before a fund’s launch.

The SEC has already allowed other spot altcoin ETFs, such as Litecoin and HBAR, which attracted inflows of $700,000 and $44.39 million respectively. The REX-Osprey XRP ETF, launched recently, gained over $110 million in assets within its first month

JPMorgan analysts estimate XRP ETFs could attract over $8 billion in inflows in their first year. Analysts add that while short-term volatility may continue, steady liquidity inflows could help XRP maintain strong support near the $2.00 level.

The post XRP Faces Resistance Near $2.60 as Analysts Eye $2.00 Rebound Zone for Market Stability appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.