XRP Price Analysis: Rejection at $2.83 Resistance Signals Potential Correction to $2.65

XRP is currently trading at $2.77 with a market capitalization of $165 billion and 24-hour trading volume reaching $2.73 billion. The digital asset has entered a consolidation phase, fluctuating between $2.77 and $2.82 as market participants await decisive directional momentum. Technical indicators reveal that XRP faced significant rejection at the $2.83 resistance level, suggesting potential near-term weakness in buying pressure. Market analysts are monitoring key support levels, with the $2.65 threshold emerging as a critical zone that could determine the token’s short-term trajectory. The current trading pattern indicates a battle between bullish and bearish forces, with neither side establishing clear dominance in recent sessions. Trading volume remains substantial, reflecting continued institutional and retail interest despite the price uncertainty. Market observers note that a break below current support levels could trigger further downward movement toward the $2.65 support area. Conversely, a successful breach above the $2.83 resistance could signal renewed bullish momentum. The cryptocurrency’s performance continues to draw attention from both technical traders and long-term investors monitoring its position within the broader digital asset ecosystem.