XRP has been trading between $2.59 and $2.4438 in the past 24 hours, facing resistance at $2.59. Currently priced at $2.4381, buyers are battling intense selling pressure to hold the $2.42 support zone. Multiple tests at this level indicate sellers are attempting to push prices lower.
If bearish momentum prevails, XRP could break below $2.42, leading to a decline toward $2.30. This level previously served as a key support before the rally to $2.59. Now, it aligns with the ascending triangle’s trend line on the 1-hour chart, making it a crucial zone for buyers.
Potential Rebound and Upside Breakout
A strong defense at $2.30 could spark renewed buying, potentially lifting XRP back above $2.42 and toward $2.59. A breakout above $2.59 would confirm an uptrend continuation, setting the stage for a push to $2.71.
If momentum builds, XRP could breach $2.71 and target the long-anticipated $3.00 level. A move above this psychological barrier would reinforce bullish sentiment and signal extended gains.
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Key Levels to Watch
The $2.42 support level remains critical. A breakdown could trigger further losses to $2.30, while a rebound may confirm bullish strength. Traders should monitor price action closely, as XRP’s next move will determine whether the uptrend resumes or a deeper retracement unfolds.
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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