XRP Struggles After Breakout Attempt: Will Support Hold Amid Low Volume?

XRP recently showed signs of a bullish breakout, pushing above the 50-day EMA at $2.39 and briefly testing the upper boundary of its descending channel. However, the move lacked momentum, with price action stalling at $2.44, a modest daily decline of 0.32%. This hesitation, coupled with declining trading volume, has raised concerns of a potential fakeout.

Technical indicators mirror the uncertainty. The RSI is currently neutral at 51.84, providing no strong bullish or bearish signals. XRP is now hovering above a key support cluster formed by the 50 EMA at $2.39 and the 100 EMA at $2.31. Holding these levels is crucial for maintaining the short-term bullish outlook.

If the price dips below $2.31, the 200 EMA could come into play as the next macro support. A further breakdown could expose XRP to a retest of the critical $1.92 level, considered the last line of defense in the current structure. On the upside, XRP faces resistance in the $2.60–$2.70 range, aligning with the upper trendline of the descending channel. A confirmed daily close above this zone could pave the way for a rally toward the $3.00 level, reigniting bullish momentum.

Amid broader crypto market uncertainty and mixed sentiment, XRP’s lack of follow-through suggests investors are waiting for a clear catalyst. Until then, maintaining support above $2.31 will be key. Traders should monitor $1.92 for structural integrity, $2.31 as immediate support, and $2.60 as breakout confirmation. With volume thinning, caution remains vital in the short term.