​XRP Slips Toward Key Support Zone Amid Bearish Pressure​

(MENAFN- DailyFX (IG)) ​​​XRP slips towards support

​With interest shifting to emerging crypto projects promising stronger utility or explosive Return on Investment (ROI) potential, XRP is losing appeal to alternatives like "XRP 2.0" contenders such as Remittix - appealing for its real-world payments infrastructure - and new meme-layer projects like LayerBrett, which are drawing speculative funds away.

​XRP bearish case:

​XRP slips towards its mid-to-late August lows at $2.8237-to-$2.7824, a fall through which would engage the early August lows at $2.7284.

​Failure there would probably provoke a sell-off towards the May peak at $2.6542.

​XRP bullish case:

​As long as the $2.8237-to-$2.7824 support area holds on a daily chart closing basis, an attempt to break through the August downtrend line at $3.0196 may be made. If successful, the 55-day simple moving average (SMA) at $3.0933 and the 24 August high at $3.1263 may be revisited.

​A rise and daily chart close above $3.1263 could open the way for the late July-to-August highs at $3.3306-to-$3.3826 to be reached.​​

XRP daily candlestick chart Source: TradingView Important to know

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