XRP Technical Analysis: 31 MAR 2025
Price is starting to feel the pressure of the bearish pattern. Source: TradingView
General View
XRP is showing signs of weakness after breaking down from a Diamond Top pattern. The price has slipped below the lower boundary of the pattern, indicating that selling pressure is intensifying. If bulls fail to regain momentum quickly, XRP could enter a deeper correction phase. The coming sessions will be crucial as buyers attempt to reclaim lost ground and invalidate the bearish outlook.
On The Upside
XRP faces immediate resistance at the $2.15 level, followed by $2.20, which coincides with the breakdown point of the Diamond Top. Price is likely to face selling pressure around this zone as sellers step in aggressively. However, if this region is reclaimed, the bearish pattern could start to get negated, potentially shifting momentum back in favor of the bulls.
On The Downside
XRP’s key support lies around the $2.05 level. This level has been holding firm since yesterday despite multiple attempts. As long as this support holds, the chances of initiating short coverings remains possible. However, if bulls end up losing this support price is then likely to drop towards $2.00, a psychological level followed by $1.90 where 50% Fibonacci is positioned.
Levels to watch on XRP. Source: TradingView
