XRP is trading at approximately $2.22, reflecting a 5.1% decline from the previous day. This drop comes amid broader market volatility and regulatory concerns surrounding Ripple. Let’s break down the price action across different timeframes.
15-Minute Chart: The short-term price action shows XRP fluctuating between $2.20 and $2.25, indicating consolidation. Traders seem to be in a wait-and-see mode, unsure of the next move.
1-Hour Chart: The 1-hour chart reveals a descending trend, with XRP dropping from $2.35 to $2.22 over the last 24 hours. This suggests sustained selling pressure and weak bullish momentum.
4-Hour Chart: A key descending resistance level has rejected XRP’s price, reinforcing a bearish sentiment. A failure to break above this level could mean further downside movement.
Technical Indicators & Reversal Signals
A notable head-and-shoulders pattern has formed on the XRP price chart. This pattern is traditionally seen as a bearish reversal signal, consisting of:
- Three peaks: a higher peak (head) between two lower peaks (shoulders).
- A neckline that connects the lows between these peaks.
- If XRP breaks below the neckline, a sharp drop toward the $1.07 support zone could occur. However, if buyers step in, a rebound toward $2.50 is possible.
Prediction: What’s Next for XRP?
Bearish Scenario:
- If XRP fails to break above $2.30, it could face increased selling pressure.
- A break below $2.20 could push XRP toward $2.00 and lower.
- If the head-and-shoulders pattern plays out, XRP could drop toward $1.50–$1.07.
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Bullish Scenario:
- If XRP holds above $2.20 and breaks $2.35, it could regain momentum.
- A push above $2.50 could signal a trend reversal, with a potential upside toward $3.00.
XRP is at a critical juncture. The next 24–48 hours will be crucial in determining whether it continues downward or stages a recovery. Traders should watch key support ($2.20, $2.00) and resistance ($2.35, $2.50) levels for confirmation of the next move.
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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