Watch These 2 Critical Levels for XRP: Ripple Price Analysis
XRP’s price has entered a tight and decisive range between the 100-day and 200-day moving averages, recently facing rejection at the critical 200-day MA near $2.3.
With bearish pressure building, the price now hovers near the lower boundary of this range, increasing the likelihood of a downside breakout and a potential corrective move.
XRP Price Analysis
By Shayan
The Daily Chart
XRP has recently entered a narrow and decisive price range, confined between the 100-day ($2.2) and 200-day ($2.3) moving averages.
The recent rejection from the 200-day MA confirms a persistent presence of sellers and highlights the lack of bullish momentum at this level. Now, XRP is testing the lower boundary of this range near the 100-day MA. A breakdown below would signal a renewed bearish leg, potentially dragging the price back down to the $2.0 support, its recent swing low.
Ripple continues to trade within a long-term descending wedge, and based on the current price action, a breakout from this structure seems unlikely in the short term, suggesting prolonged consolidation may continue.
The 4-Hour Chart
On the 4-hour timeframe, XRP had briefly broken out of a descending channel, hinting at a possible trend reversal.
However, after facing rejection at the $2.3 resistance, which aligns with a previous swing high, the price retraced to retest the channel’s upper boundary. This level is now acting as support.
Should XRP hold this level and complete the pullback successfully, a renewed surge toward the $2.3 resistance is likely.
Conversely, a breakdown below this support would invalidate the breakout and open the door to another bearish move. The price action over the next few sessions will be pivotal in determining XRP’s short-term direction.
The post Watch These 2 Critical Levels for XRP: Ripple Price Analysis appeared first on CryptoPotato.
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Watch These 2 Critical Levels for XRP: Ripple Price Analysis
XRP’s price has entered a tight and decisive range between the 100-day and 200-day moving averages, recently facing rejection at the critical 200-day MA near $2.3.
With bearish pressure building, the price now hovers near the lower boundary of this range, increasing the likelihood of a downside breakout and a potential corrective move.
XRP Price Analysis
By Shayan
The Daily Chart
XRP has recently entered a narrow and decisive price range, confined between the 100-day ($2.2) and 200-day ($2.3) moving averages.
The recent rejection from the 200-day MA confirms a persistent presence of sellers and highlights the lack of bullish momentum at this level. Now, XRP is testing the lower boundary of this range near the 100-day MA. A breakdown below would signal a renewed bearish leg, potentially dragging the price back down to the $2.0 support, its recent swing low.
Ripple continues to trade within a long-term descending wedge, and based on the current price action, a breakout from this structure seems unlikely in the short term, suggesting prolonged consolidation may continue.
The 4-Hour Chart
On the 4-hour timeframe, XRP had briefly broken out of a descending channel, hinting at a possible trend reversal.
However, after facing rejection at the $2.3 resistance, which aligns with a previous swing high, the price retraced to retest the channel’s upper boundary. This level is now acting as support.
Should XRP hold this level and complete the pullback successfully, a renewed surge toward the $2.3 resistance is likely.
Conversely, a breakdown below this support would invalidate the breakout and open the door to another bearish move. The price action over the next few sessions will be pivotal in determining XRP’s short-term direction.
The post Watch These 2 Critical Levels for XRP: Ripple Price Analysis appeared first on CryptoPotato.
Read More