XRP Price Prediction for March 1: Struggling Below Key Resistance Levels

XRP continues to struggle below key resistance levels, which are proving difficult to break. Despite some recent short-term relief signals, XRP remains trapped below the $2.25-$2.30 zone, an area that has acted as a critical barrier to any substantial upward movement.

Key Resistance Zone Holding XRP Back

Currently, XRP is trading below the important $2.25-$2.30 resistance zone, a price range that has proven to be a significant hurdle for the cryptocurrency in recent weeks. While the price has bounced from this level multiple times, it remains unable to push above it decisively. This resistance is likely to cap any bullish movement in the short term. Traders looking for a potential rally should closely monitor this range, as any attempt to surpass it will likely face selling pressure.

Support Levels and Short-Term Outlook

On the downside, XRP has found support in the $1.95-$2.00 range. This area has acted as a floor for the token’s price recently, preventing it from falling further. In fact, the price recently rebounded from exactly $1.95, reaffirming its importance as a critical support zone.

While this support provides some relief, XRP’s price action on smaller timeframes shows an oversold signal. Historically, when the Relative Strength Index (RSI) for XRP reaches oversold conditions, it has been followed by short-term bullish rallies lasting 1-3 days. However, it’s important to note that such relief rallies often do not indicate a long-term reversal of the downtrend. Traders should be cautious of any short-term gains, as the larger trend still remains bearish.

Bearish Divergence and Larger Downtrend

Despite the potential for a temporary bounce, XRP remains in a broader downtrend. The price action continues to form lower highs and lower lows, a characteristic of a bearish market. A bearish divergence on the chart further confirms the prevailing negative sentiment, indicating that there has been a lack of momentum behind the upward movements.

For XRP to reverse this trend, it would need to show sustained buying pressure and break through several resistance levels. Currently, there are no signs that this downtrend is close to being invalidated, meaning XRP could face continued downward pressure in the near term.

Critical Support to Watch

The $1.95-$2.00 support zone remains crucial for XRP’s price action. If XRP breaks below this range, it could signal the continuation of the downtrend, with the next critical support level sitting at $1.77. This level is key, as it could determine whether the asset will continue lower or if a potential bounce will emerge from this region. Traders should keep a close eye on these support levels, as a breakdown below $1.95 could accelerate bearish momentum.

Medium-Term Outlook

If XRP manages to hold above the $1.95-$2.00 range, there is a possibility of a short-term recovery. However, the medium-term outlook remains cautious due to the overall bearish market structure. For XRP to shift toward a more positive outlook, it would need to break above $2.36 and then challenge the $2.83 level. Only after a move above these key levels could we consider a true reversal of the current downtrend.

Conclusion

As of March 1, XRP faces significant resistance at $2.25-$2.30, with support found around $1.95-$2.00. The potential for short-term relief exists, but the broader market structure remains bearish, and further downside could follow if key support levels are breached. For any bullish trend to materialize, XRP would need to clear important resistance zones, starting with $2.36 and eventually $2.83. Investors should remain cautious and watch these critical levels for the next move in XRP’s price action.