Key Insights
- XRP price struggles to hold $2.10 amid renewed market-wide selling pressure.
- Bearish leverage at $2.70 threatens XRP’s next major breakout attempt.
- Trump’s crypto policies and SEC uncertainty fuel XRP market volatility.
XRP price struggles to initiate a bullish revival because it failed to reestablish support at its critical levels. XRP price action demonstrates market-wide trends since macroeconomic indicators also face the same regulatory challenges that control price movements.
The crypto holds above $2.10, but strong short pressure limits gains. With $297 million in bearish positions at $2.70, a breakout remains tough.
XRP Price Bulls Defend $2.10, But Resistance Holds Firm
The price of XRP reached $2.08 on March 9 after it suffered a 22% decrease throughout two consecutive days. The market-wide liquidations initiated by the U.S. Non-Farm Payrolls (NFP) report resulted in a coin sell-off which caused bond yields to increase. Complete upheaval swept the 10-year U.S. Treasury yield to its highest position since November 2023 at 4.3% pulling investors away from risk assets.
XRP achieved a short recovery to $2.17 while continuing to find resistance from an increasing trendline. According to the chart, repetitions of bearish forces at this price position strengthen bearish market control. XRP experiences resistance at the 0.618 Fibonacci retracement level, which has set price reversals at $2.36 in recent weeks.
The potential upcoming support zone resides at the 1.618 Fibonacci extension level which stands at $1.61 depending on how intensively selling pushes the market. Market analysts believe price weakly above $2.10 will activate a potential return to test values between $1.80 and $2.00.
Bearish Leverage at $2.70 Limits Upside Potential for XRP Price
Derivatives data from Coinglass reveals that short traders dominate the XRP futures market. Over the past month, bearish positions totaled $372 million, significantly outweighing the $114 million in long positions.
A critical liquidity cluster sits at $2.70, where $297 million in shorts are concentrated. This level represents a major hurdle for any sustained recovery. If XRP approaches this price, traders may increase short exposure, triggering further downward pressure.
Trump’s Crypto Policy Shift Fuels Uncertainty
U.S. President Donald Trump’s pivot on crypto reserve assets has also weighed on sentiment. His recent Executive Order established a national Strategic Bitcoin Reserve, shutting out hopes of XRP’s inclusion.
The move has sparked debate over its long-term impact on alternative cryptocurrencies. Coupled with lingering regulatory battles—especially the Securities and Exchange Commission’s (SEC) pending appeal against Ripple—market confidence remains fragile.
John Reed Stark, former SEC enforcement chief, noted the agency’s recent pattern of retreating from crypto lawsuits. “The SEC Kraken Case Bites the Dust… Next Up Ripple for Sure,” he stated, fueling speculation about a potential shift in regulatory strategy.
CredibleCrypto, a well-followed trader, pointed to $2.10 as a pivotal level. “Holding this level here would be incredibly bullish,” he noted.
Should XRP lose this support, the next key area for buyers sits at $1.80. A decisive break above $2.70, on the other hand, could open the door to $3.10 and beyond.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only. And they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
