Market analyst Ali Martinez has cautioned that the token’s outlook could turn sharply bearish if it fails to hold above the $2.74 support zone.
Martinez shared a chart highlighting a descending triangle formation that has dominated XRP’s structure in recent weeks. According to his view, a decisive break below $2.74 would open the door to further downside, with potential targets around $2.35. This aligns with Fibonacci retracement levels that suggest additional weakness could follow if sellers regain control.
The recent slide has already weighed on XRP’s performance, with prices down nearly 6% over the past month. Its market cap, however, remains firm above $170 billion, keeping XRP in third place among the largest digital assets.
On the 30-minute chart, RSI hovers near 58, signaling neither overbought nor oversold conditions but leaving room for volatility. Meanwhile, the MACD indicator shows muted momentum, underscoring uncertainty in the short term.
Ali Martinez’s warning comes as XRP faces repeated rejections at the descending trendline that has capped rallies since mid-August. For bulls, reclaiming $2.90 and breaking above the $3.00 resistance would be crucial to shift sentiment and challenge higher Fibonacci levels near $3.18 and $3.35.
While XRP has often shown resilience in defending key supports, the next few trading sessions may prove decisive. A bounce from current levels could signal accumulation ahead of October’s ETF decision deadlines, but a breakdown could quickly accelerate losses toward the mid-$2.50 range.
For now, all eyes are on the $2.74 line—a level that may determine whether XRP consolidates for a fresh attempt higher or slips into deeper bearish territory.
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The post XRP Price: Market on Edge as Key Support Faces Pressure appeared first on Coindoo.
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