XRP hovered near $2.75 on Monday, down 2.38% over 24 hours, as traders evaluated key support and resistance levels pointed out by crypto analyst Ali Martinez.
In a post on Aug. 31, Martinez emphasized that XRP “must hold above $2.77” or risk dropping to $2.40.
His chart illustrated a clear floor around $2.77 that had previously attracted buying interest. Breaking below that zone, he suggested, would undermine support and leave the token vulnerable to deeper losses.
For non-technical readers, the message was clear: $2.77 is the level where bulls need to demonstrate strength, and without that, the next significant support level is down at $2.40.
In a post on Sept. 1, Martinez followed up with a more optimistic outlook.
His chart pinpointed $2.70 as a crucial level to defend, a slightly lower support zone, and $2.90 as the barrier XRP needs to break to gain positive momentum. If both conditions are met—holding the base and clearing the ceiling—his chart indicated a potential rally toward $3.70.
In simple terms, Martinez outlined a step-by-step process: first avoid slipping lower, then break through resistance, and only then target a larger breakout.
CoinDesk’s 24-hour chart reflects this ongoing battle. XRP peaked at $2.8325 during the day before sellers pushed it down, while the low of $2.7034 indicated buyers intervening to guard the lower range.
This struggle between bulls and bears aligns with Martinez’s framework. The $2.70–$2.77 area is being tested for support, while the region above $2.80 acts as resistance. Trading volume surged whenever XRP attempted to rise, indicating resistance from sellers still hesitant to let prices climb further.
The price movements highlight the importance of Martinez’s identified levels: XRP is caught between the supports he noted and the resistance above, leaving traders to monitor whether buyers or sellers will take control first.
Currently, XRP’s trajectory depends on its ability to remain above its lower support zone long enough to gain momentum for a push toward $3.70.
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