XRP Stalls at $2.93, Eyes $2.85 Floor Under Pressure

XRP attempted to breach $2.93 but was met with strong selling, pulling the token back toward its $2.85 support level. The trading session was defined by heavy flows and shifting sentiment, raising questions over whether $2.85 will hold as a reliable base or give way to deeper losses.

The resistance at $2.92–$2.93 has emerged as a fresh supply zone, where sellers reclaimed control in the upper band. That zone has repeatedly capped upward momentum over the past sessions, marking it as a critical hurdle. Meanwhile, the $2.85 level—once considered a floor—is under increasing scrutiny, as its breach could expose room for a sharp pullback. Dislodging $2.85 may open a path toward $2.80 or lower. Analysts are watching whether XRP can bounce off that support or if further declines are in motion.

On-chain and derivatives data show weakening conviction across the board. Futures open interest has receded to around $8.85 billion, reflecting a pullback in leveraged positioning and suggesting that traders are de-risking amid limited directional clarity. That pullback in open interest is often interpreted as waning confidence in continuation trades. The decline in futures exposure contrasts with price action that has struggled to break past the descending multi-month trendline. XRP remains marginally above its 100-day exponential moving average, which sits roughly in the same zone as the contested $2.85 level.

Veteran trader Peter Brandt has flagged a potential descending triangle pattern in XRP’s price structure, a setup often associated with breakdowns in momentum. He cautioned that only a close below about $2.69 would “confirm” a more pronounced drop, possibly targeting $2.22. At present, with XRP trading around $2.85, that scenario remains speculative—but one further slip could put that downside trigger into view.

Other analysts highlight that underwater retail interest and rising exchange inflows are tilting the balance toward supply. Whale accumulation, meanwhile, has been more discreet: large holders have reportedly increased their positions over recent weeks by approximately 7.1 percent, adding nearly $1.9 billion in XRP. This suggests a divergence in behaviour between institutional and small-scale participants, though the retail crowd appears more willing to take profits at current levels.