XRP Technical Analysis: 29 MAR 2025
XRP is creating a diamond top formation. Source: TradingView
General View
XRP failed to establish a stronghold above the range mid-point, signaling weakness after multiple attempts. This failure led to the breakdown of the ascending channel, increasing bearish pressure. The diamond top pattern that followed now stands as the primary concern, indicating a heightened downside risk. With the price rejections from higher levels, XRP is now vulnerable to further declines unless bulls can reclaim the lost levels. In the short term, sellers remain in control of the market momentum.
On The Upside
XRP lost several key support levels in yesterday’s session, with all of these levels now acting as intra-day resistances. The first resistance zone starts at the 2.15 to 2.20 range, followed by a secondary resistance area from 2.30 to 2.35. Any upward movement towards these levels is likely to face strong fresh selling pressure.
On The Downside
With the diamond top formation unfolding, XRP risks deeper losses. Immediate support lies between $2.10 and $2.05. However, if weakness persists, the price could slide further toward the $1.88-$1.90 range low, a major demand zone. Short-term bounces are expected from the range lows once again upon testing.
XRP looks likely to be heading towards the range lows once again. Source: TradingView
