XRP is trading around $2.14, reflecting a modest 1.42% increase in the last 24 hours. However, the past 48 hours have seen notable fluctuations, with over 1.12 billion XRP tokens liquidated, triggering a sharp sell-off and highlighting market volatility. XRP’s price action is currently a blend of bullish potential and bearish pressure, creating an interesting scenario for short-term traders.
Analyzing Price Action on the 4-Hour, 1-Hour, and 15-Minute Charts
On the 4-hour chart, XRP has been in a consolidation phase after a recent pullback. The key resistance level to watch is around $2.20, where the price has faced rejection multiple times. If XRP manages to break above this level, it could test higher resistance zones at $2.30 and $2.40. On the downside, the immediate support is at $2.07. If this level breaks, the next critical support comes in at $2.00, which has acted as a psychological barrier in previous price action.
In the shorter 1-hour time frame, XRP has shown some bearish tendencies, with a series of lower highs, suggesting the possibility of further downside pressure. However, the market could turn bullish if the price stays above $2.10. A break above $2.15 could signal the start of a potential rally, pushing toward the $2.20 resistance. On the flip side, if the price fails to hold $2.10, we could see further declines, with $2.00 being the next major support level.
The 15-minute chart provides a clearer picture of short-term buying interest. XRP recently bounced above the $2.10 level, indicating some bullish momentum. However, the critical resistance around $2.15 remains a significant hurdle. A breakout above this point could trigger a more substantial move to the upside, while failure to surpass it might lead to a reversal or consolidation around current levels.
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Price Outlook for the Next 48 Hours
Looking ahead, XRP’s next move hinges on how it interacts with the key resistance at $2.15. If the price can break through this level, it could test $2.20 and potentially higher levels like $2.30 or $2.40. However, failure to maintain momentum above $2.10 could lead to a decline towards $2.00, with $1.85 acting as a key support zone. The overall short-term trend will likely depend on whether the price can decisively break out of the consolidation range, setting the stage for either a bullish rally or a bearish pullback.
Traders should closely monitor the $2.15-$2.20 zone, as this range will be critical in determining XRP’s next move. A breakout could lead to more upside potential, while a failure to hold these levels could trigger more selling pressure in the near term.
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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