XRP is at a pivotal moment as bulls and bears battle for dominance near a critical support level. Despite closing with a bearish candlestick yesterday, the price managed to stay above the ascending trendline, indicating that bullish momentum remains intact. However, early trading hours saw a sharp attempt by bears to push the price lower, only for bulls to step in aggressively and defend the $2.35 support zone. As a result, XRP rebounded and is currently trading around $2.3895.
Potential Bullish Breakout
If bulls successfully maintain support above $2.35 and the daily candlestick closes bullish, it could trigger a strong upside move. A sustained breakout may propel XRP past the $2.59 resistance level, opening the door for further gains toward $2.71. Beyond this mark, a close above $2.71 could ignite a powerful rally, potentially driving prices into the $3.0–$3.4 range before facing any meaningful correction. This scenario would reinforce the broader bullish trend, attracting more buyers into the market.
Bearish Risks Loom If Support Fails
On the flip side, failure to hold the $2.35 support level could give bears the upper hand, increasing selling pressure. A decisive break down below this key level may push XRP toward $2.20, with extended losses potentially testing the $2.00–$1.80 zone before a significant rebound occurs. If this scenario plays out, traders should be cautious of further downward volatility.
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Market Outlook and Key Levels to Watch
As XRP trades near this crucial price point, investors and traders must closely monitor market movements. The $2.35 support level remains the defining threshold for XRP’s next move. A bullish close above this level could signal a fresh rally, while a break below may expose the asset to further declines. With both scenarios in play, XRP’s price action in the coming sessions will determine its next major trend direction.
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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