XRP has recently shown weak performance, and market observers are closely monitoring its price movements. After reaching a new high in late July, XRP experienced its first significant pullback, with the lowest point around 2.7. Since then, although there have been two rounds of rebounds, the high points of each rebound have shown a downward trend, and they have just touched the bottom of the previous high volatility range.

In mid-September, XRP oscillated within the range of 2.95-3.15. This Monday, accompanied by an increase in trading volume, the price broke below the lower limit of this oscillation range, once again touching the key support level of 2.7. Although there was a rebound on Tuesday, it failed to break through the lower resistance level, and subsequently fell back, highlighting the current weakness of bullish forces, making it difficult to reverse the downward trend.

Looking ahead, the support at the 2.7 level is crucial. If this level cannot be maintained and is accompanied by a large amount of selling, XRP may further drop to the 2.3 level. In the short term, investors should closely monitor the resistance in the 2.85-2.95 range and the support in the 2.75-2.7 range.

It is worth noting that the cryptocurrency market is highly volatile, and investors should thoroughly assess risks and analyze various factors when making decisions. XRP, as a highly watched digital asset, not only reflects its own development status but also to some extent mirrors the emotional changes of the entire cryptocurrency market.