In the last two months, Ripple (XRP) price has been under pressure, demonstrating certain trends that may impact future market movements.
XRP Price Dynamics Over the Last Two Months
Since mid-July, XRP has been under selling pressure, forming a series of lower highs. This usually indicates consistent selling pressure. However, XRP has not made new lower lows, managing to find steady support between $2.7 and $2.8.
Key Support Levels and Their Significance
$2.7 has become the key battleground. If Ripple price continues to hold this support, the sideways structure could persist. However, repeated tests of support weaken it. If $2.7 breaks, the next key levels to watch are $2.58 and $2.32.
Expectations for Price Changes in the Coming Weeks
There are two possible scenarios: bearish pressure may crack the $2.7 support, or a break above the descending trendline may open the path to $3.6. This would create conditions for a sentiment shift in the market and potential price growth for XRP.
Ripple is currently at a crossroads. The support levels at $2.7 and the descending trendline have created a narrow channel that cannot last forever. The coming weeks should clarify the direction of price movements for Ripple.
