XRP traded near $2.75 on Monday as traders parsed technical levels flagged by crypto analyst Ali Martinez. Martinez highlighted a narrow support band that, if lost, could push the token toward a deeper floor — while a successful breakout could clear the way for a run toward $3.70.
In an Aug. 31 post, Martinez warned XRP “must hold above $2.77” to avoid a slide to $2.40. His follow-up on Sept. 1 refined the map: defend roughly $2.70 as the base, break above $2.90 to flip momentum positive, and then target the larger upside toward $3.70.
Put simply, Martinez’s set-up is a three-step framework: first prevent further downside by keeping the $2.70–$2.77 zone intact; second, overcome the near-term resistance around $2.90; third, use that breakout as the trigger for a swing higher. Traders watching intraday action saw XRP hit a high near $2.8325 before sellers pushed it back, while a low around $2.7034 signaled buyers defending the base — a pattern that matches the analyst’s levels.
Volume behavior matters here: spikes accompanied attempts to lift the price above resistance, suggesting sellers remain ready to cap rallies. If buying pressure fades and the market falls below the support band, technicians view $2.40 as the next substantive cushion. Conversely, a decisive close above $2.90 on healthy volume would strengthen the case for a larger move toward Martinez’s $3.70 target.
Risk reminder: this is technical analysis, not investment advice. Crypto markets are volatile and support/resistance zones can fail quickly, especially around news events or large order flows. Manage position size, set clear stop levels, and avoid chasing breakouts without volume confirmation.
What to watch next: whether XRP can hold the $2.70–$2.77 zone, the price reaction to a test of $2.90, and whether breakouts come with sustained volume — each will help determine whether sellers or buyers seize control.
Source: CoinDesk. Read the original coverage for full details.