XRP traded around $2.75 on Monday, down roughly 2.38% over the past 24 hours, as traders weighed key support and resistance levels identified by crypto analyst Ali Martinez.
In an August 31 post, Martinez stressed that XRP must hold above $2.77 to avoid a potential slide toward $2.40, pointing to this zone as a crucial floor that had previously attracted buyers. Falling below it, he warned, could leave the token exposed to deeper losses.
On September 1, Martinez outlined a bullish scenario: defending support near $2.70 and breaking resistance at $2.90 could open the path for a potential rally toward $3.70. His framework emphasizes first protecting support, then overcoming resistance, and finally targeting a larger breakout.
CoinDesk’s 24-hour chart illustrates this dynamic. XRP reached $2.8325 before sellers pushed it back, while a low of $2.7034 showed buyers defending the floor. The $2.70–$2.77 range acts as a foundation, with resistance above $2.80. Volume spikes during upward attempts highlight ongoing selling pressure.
Near-term direction depends on whether XRP can maintain support long enough to gather momentum for a push toward $3.70, with bulls and bears competing for control of key levels.
