**XRP Price Faces Selling Pressure After Strong Rejection at $2.72 Resistance**
XRP (XRP) price has entered a corrective phase after a significant rejection from the $2.72 resistance zone—a highly technical level reinforced by the 200 EMA. This rejection has shifted market sentiment to bearish, with the price now trending lower toward the $2 support level. This support has not been retested since the last major rally, marking a crucial point for XRP’s next move.
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### Key Technical Points for XRP Price
– **Major Rejection:** XRP failed to break above the $2.72 resistance, which aligns closely with the 200 EMA.
– **Critical Support:** The $2.00 level remains the next key high-timeframe support that needs to hold.
– **Range Formation:** Price is likely to consolidate between $2.00 and $2.72 before a potential breakout.
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From a technical standpoint, the $2.72 resistance area represents a major pivot zone for XRP. The confluence of this level with the 200 EMA created a significant supply area, and the recent price rejection confirms that sellers are firmly in control around this region.
XRP has slipped below the 200 EMA, increasing the likelihood of a continuation move toward the $2.00 support. This support zone is structurally important, as it served as the base for the last impulsive rally.
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### Potential for Range Development
Despite the bearish outlook, there remains potential for a range-bound market if XRP stabilizes at or above the $2.00 level. A period of sideways movement between $2.00 and $2.72 could emerge, allowing momentum to reset as the market digests recent volatility. This consolidation phase would set the stage for the next significant price expansion.
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### Market Structure and Sentiment
The broader market structure for XRP currently leans bearish in the short term but appears neutral over the mid-term timeframe. The inability to reclaim the $2.72 resistance and weakness below the 200 EMA point to continued downside risk—unless strong buying pressure emerges at $2.00.
Should buyers successfully defend the $2.00 support and establish a higher low, XRP could begin forming an accumulation range. A future breakout above $2.72 would then signal a potential shift back toward bullish momentum.
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### What to Expect in the Coming Price Action
In the short term, XRP’s direction will largely depend on how the price behaves around the $2.00 support level. A decisive close below this key level may trigger a sharper decline, while consistent closes above it would favor consolidation.
Until XRP manages to reclaim the 200 exponential moving average, the market bias remains cautious, with the possibility of further weakness persisting.
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**Summary:** XRP is currently navigating a critical phase after rejection from the $2.72 resistance. Traders should watch closely how the $2.00 support performs in the coming sessions, as it will likely dictate whether XRP consolidates or resumes a downward trajectory.
https://bitcoinethereumnews.com/tech/xrp-price-eyes-2-00-as-rejection-confirms-growing-weakness/?utm_source=rss&utm_medium=rss&utm_campaign=xrp-price-eyes-2-00-as-rejection-confirms-growing-weakness