Can Bulls Defend $2.90 as Outflows Pressure Market?
The post Can Bulls Defend $2.90 as Outflows Pressure Market? appeared on BitcoinEthereumNews.com.
XRP price today is trading close to $2.90, slipping after repeated failures to clear the $3.10 resistance zone. The token has been consolidating within a tightening triangle since mid-August, with sellers gradually forcing lower highs while buyers defend a base above $2.85. This compression reflects indecision, as markets weigh fresh selling pressure against Ripple’s recent strategic partnerships, including its cross-chain alliance with Cardano. With volatility narrowing, traders expect a decisive breakout or breakdown in the coming sessions. Technical Structure Shows Symmetrical Triangle Compression XRP price dynamics (Source: TradingView) On the 4-hour chart, XRP price action remains capped by descending resistance at $3.05–$3.10. The support base has formed near $2.85–$2.88, a zone that coincides with the lower boundary of the triangle pattern. Exponential moving averages highlight the struggle for direction. The 20- and 50-EMAs cluster just above $2.98, while the 100- and 200-EMAs sit near $3.01 and $3.00, creating a congestion zone that has repeatedly stalled upside momentum. Momentum indicators lean cautious. RSI has slipped to 40, suggesting bearish pressure without oversold extremes. MACD remains flat, underscoring a lack of directional conviction. XRP needs a close above $3.10 to escape compression,” warning that continued stalling could invite sellers back to $2.80. Related: Solana Price Prediction: SOL Tests $215 as U.S. Blockchain Push Fuels Momentum Exchange Outflows Highlight Bearish Pressure XRP On-Chain Activity (Source: Coinglass) On-chain data adds weight to the cautious outlook. Spot exchange flows show a net outflow of nearly $49.3 million on August 29, extending a multi-week trend of persistent selling. This distribution contrasts with the accumulation seen earlier in the quarter, when inflows briefly supported price above $3.30. XRP price dynamics (Source: TradingView) Bollinger Bands on the daily chart reinforce the narrative. XRP is trading near the lower band around $2.89, while Parabolic SAR signals remain bearish. With…
Filed under: News - @ August 29, 2025 9:24 am