XRP opened at $2.3911 and closed at $2.2938, reflecting a 4.07% decline over the last 24 hours. During this time, the price retraced to the $2.25 support zone. Despite this drop, buyers are working to keep the price from moving further down, suggesting that the $2.25 support level might hold as this coin is currently trading at $2.3320.
Key Support Level at $2.25
The $2.25 zone is crucial for the short-term outlook of XRP. If the price can maintain above this level, buyers might attempt to drive the price higher. If bullish momentum increases, XRP could push past the $2.64 resistance, which has caused a recent price pullback. A successful break above $2.64 could bring $3.0 into view as the next resistance level before any possible pullback.
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Upside Possibilities: $2.64 to $3.0
With strong buying pressure, XRP may be able to break through the $2.64 resistance. If the price surpasses this, it could rally towards $3.0. Traders will need to look for a solid breakout to confirm the continuation of this upward trend. If the price reaches $3.0, it would be a sign of extended bullish momentum, with further gains possible.
Downside Risk: $2.15 to $2.08
On the flip side, if the buying pressure fades and selling takes over, XRP could face a further decline. If the price falls below $2.25, it may test the next support level at $2.15. A continued drop could bring the price to $2.08, leading to more significant losses if the selling trend persists.
Monitor Key Price Levels
Traders should closely watch the key support zones at $2.25, $2.15, and $2.08. The next significant price movement for XRP will depend on whether buyers maintain upward momentum or if sellers regain control of the market.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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