XRP struggles to overcome significant resistance near the $2.84 price level, with technical indicators suggesting potential short-term declines despite optimistic long-term forecasts. The cryptocurrency is currently battling a persistent supply zone between $2.80 and $2.90 where selling pressure dominates, repeatedly challenging bullish momentum.
A critical Break of Structure (BOS) technical pattern confirms a shift from bullish to bearish momentum, substantially increasing rejection risks. This development could drive XRP toward the $2.50–$2.60 support range if the resistance barrier holds.
Short-term risks include potential algorithmic selling and stop-loss cascades triggered by failed breakout attempts. Market analysts also note emerging distribution patterns indicating significant holders may be offloading positions, amplifying downward pressure on the asset.
Despite near-term headwinds, prominent analyst Egrag Crypto maintains a bullish long-term outlook, forecasting a potential upswing toward the $27 milestone. This prediction derives from historical trend analysis and established support levels, presenting a counter-narrative to current bearish indicators while acknowledging prevailing market uncertainties.