XRP Consolidates Near $2.75 with Analyst Pointing to $2.40 Risk and $3.70 Potential

XRP traded around $2.75 on Monday, down 2.38% over 24 hours, as traders monitored support and resistance levels outlined by crypto analyst Ali Martinez.

In an August 31 post, Martinez emphasized that XRP must hold above $2.77 to avoid a potential decline toward $2.40, identifying this zone as a critical floor that had previously attracted buyers. Breaching it could leave the token vulnerable to deeper losses.

Martinez’s September 1 update offered a bullish scenario: defending support near $2.70 and breaking resistance at $2.90 could pave the way for a potential rally toward $3.70. The analyst’s framework suggests first protecting the lower level, then overcoming resistance, and finally targeting a larger breakout.

CoinDesk’s 24-hour chart shows XRP reaching $2.8325 before sellers pushed it lower, while a low of $2.7034 demonstrated buyers defending support. The $2.70–$2.77 zone forms a foundation, with resistance just above $2.80. Volume spikes during upward attempts reflect selling pressure.

XRP’s near-term direction will hinge on whether it can maintain support long enough to gather momentum for a push toward $3.70.