Breakthrough or Collapse? XRP is Struggling at a Very Dangerous Resistance Level

XRP is holding steady above the $2 mark, currently trading around the $2.13 level, reflecting an incredible increase of over 300% since the low before the bullish surge in November 2024. However, consolidation signs are appearing. A bearish engulfing pattern near the resistance level of $2.15 and the descending trendline indicate increasing selling pressure. The 50-period EMA, also near $2.15, reinforces this level as a technical ceiling. Glassnode shows that the daily profit-taking level is 68.8 million dollars; early investors are taking profits. The MACD is weakening and the RSI is slightly below neutral, therefore it will either go sideways or retreat if buyers do not step in soon. Key technical points: Resistance level: $2.15 (trend line + EMA 50)Support: $2.086 and $2.035Bearish candlestick chart signals cautionMACD momentum is fading below the signal line ETF approval boosts institutional optimism; XRP is supported Despite the short-term technical weakness, the long-term fundamentals of XRP are being strengthened, thanks to the support of institutions and regulatory breakthroughs. The Canadian company 3iQ has launched the XRPQ ETF on the Toronto Stock Exchange, providing access through a managed product. Purpose Investments has also launched its own XRP ETF. In the United States, the SEC has opened a comment period for the ETFs proposed by Franklin Templeton, including those related to XRP and Solana, to be listed on the Cboe BZX Exchange. This could open the market to more investors and provide fuel for XRP's next move. As regulatory clarity emerges, analysts expect ETF cash flow to replace the hype with institutional buying. What will the price of XRP be next? While the bullish trend from the November lows is nothing short of explosive, XRP is now facing a significant challenge. A clear breakthrough above $2.15 could invalidate the current bearish trend and set the stage for a rally to $2.34 and potentially $2.65. On the other hand, failing to hold the support level at $2.086 could trigger a deeper correction, testing the psychological support level near $2.00 or lower.

Set up trading (Downtrend unless broken): Buy low price: $2.13–$2.14 when rejectedStop loss: Above $2.16Target: $2.086 and $2.035 The next move will depend on whether the bullish momentum of the ETF and regulatory clarity can offset the realization of increasing profits. If those catalysts hold, the price of XRP could rewrite its bullish scenario. However, for now, caution is needed when near the resistance level.