- XRP trades near its 24-hour low of $1.99, with MACD bearish and RSI at 44.27, indicating weak support levels.
- The price needs to reach $1.2578 before it can proceed upward to $3.0110 and $4.2243 assuming an overall momentum increase.
- The market predicts that the exchange rate will increase to $2.01 by March 1 and rise to $2.21 by March 30, 2025.
Despite Nvidia’s strong earnings, broader market concerns—such as renewed U.S. Tariffs and a slowing economy—have weighed on investor sentiment, driving bearish trends in the cryptocurrency market.
The price of XRP is trading at $2.00 as the total trading volume reaches $5.89M while the market capitalization exceeds $116.45 billion with a dominance of 4.35%. The XRP exchange rate has dropped by -10.11% throughout the past 24 hours. The 24-hour price range fluctuates between $1.99 and $2.25, suggesting moderate volatility.However, the fact that the price is sitting close to the lower boundary of this range indicates that bearish momentum is dominant.
XRP Retracement: Key Support and Resistance Levels
Analyst VipRoseTr suggests that the cryptocurrency is currently in a retracement phase, testing key Fibonacci levels after a strong bullish run. The most critical support level identified is $1.2578, which aligns with the 0.786 Fibonacci retracement level, making it a significant zone for potential price reversal. The price is currently retracing through the 0.5 and 0.618 Fibonacci levels.
The first important bullish target exists at $3.0110 as an essential resistance level where a lasting uptrend might be confirmed if this point is breached. The final projected target of $4.2243 suggests a significant rally if bullish momentum builds.
However, failure to hold the $1.2578 support zone could result in a further drop, delaying any bullish recovery.If buying pressure increases at the key retracement level, XRP could experience a strong rally toward the $3+ region and beyond.
Technical Indicator Signal Bearish Momentum
The MACD indicator is trading below the signal line signaling a bearish momentum .The RSI is at 44.27, indicating that XRP is approaching oversold conditions. Overall, XRP is experiencing bearish momentum with weak support levels, as indicated by the MACD and RSI.
XRP Price Prediction for March 1
Coincodex analysts anticipate a 0.1% rise in XRP price to $ 2.01. With the potential ROI at 1.58%, this presents a profitable opportunity for long traders. Moreover,XRP price is expected to rise by 10.27% and reach $ 2.21 by March 30, 2025.
