Ripple Price Analysis: Make or Break for XRP, $1.5 or $3 Comes First?
Ripple’s decline has stalled at the critical $2 support level, with price action remaining subdued. This suggests low market activity, leading to a short-term consolidation phase.
XRP Price Analysis
By Shayan
The Daily Chart
XRP has been trading within a tight range, constrained by the 100-day and 200-day moving averages, signaling market indecision. Following a sharp decline, the price has now reached the crucial $2 support level, a key area that has held firm since December 2024.
Given the current low trading activity and the balance between buyers and sellers, XRP is expected to maintain consolidation above this level until a surge in demand or supply dictates the next major move.
The 4-Hour Chart
On the lower timeframe, XRP’s consolidation near the $2 support zone is more pronounced, indicating a state of equilibrium in the market.
A slight bullish divergence between the price and the RSI suggests the potential for buying pressure to emerge in the coming days.
Additionally, the recent price action aligns with the Wyckoff accumulation pattern, increasing the likelihood of a short-term bullish rebound. If this scenario plays out, Ripple could target the $2.5 level as its next major resistance.
The post Ripple Price Analysis: Make or Break for XRP, $1.5 or $3 Comes First? appeared first on CryptoPotato.
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Ripple Price Analysis: Make or Break for XRP, $1.5 or $3 Comes First?
Ripple’s decline has stalled at the critical $2 support level, with price action remaining subdued. This suggests low market activity, leading to a short-term consolidation phase.
XRP Price Analysis
By Shayan
The Daily Chart
XRP has been trading within a tight range, constrained by the 100-day and 200-day moving averages, signaling market indecision. Following a sharp decline, the price has now reached the crucial $2 support level, a key area that has held firm since December 2024.
Given the current low trading activity and the balance between buyers and sellers, XRP is expected to maintain consolidation above this level until a surge in demand or supply dictates the next major move.
The 4-Hour Chart
On the lower timeframe, XRP’s consolidation near the $2 support zone is more pronounced, indicating a state of equilibrium in the market.
A slight bullish divergence between the price and the RSI suggests the potential for buying pressure to emerge in the coming days.
Additionally, the recent price action aligns with the Wyckoff accumulation pattern, increasing the likelihood of a short-term bullish rebound. If this scenario plays out, Ripple could target the $2.5 level as its next major resistance.
The post Ripple Price Analysis: Make or Break for XRP, $1.5 or $3 Comes First? appeared first on CryptoPotato.
Read More