XRP is trading near $2.24 amid a turbulent crypto market that has investors on high alert. Technical analysis across daily, weekly, and monthly timeframes reveals critical levels and patterns likely to dictate XRP’s near-term trajectory as we approach early April.
Detailed Price Analysis
Daily Overview
On the daily chart, XRP faces significant challenges:
- Support: Around $2.00
- Resistance: Near $2.64
XRP’s price action indicates pressure at the $2.64 level, a key barrier to upward movement. A breach could nudge the price toward $2.80. However, failure to hold the $2.00 support might trigger further declines.
Weekly Perspective
Over the weekly timeframe, XRP shows broader short-term dynamics:
- Support: Approximately $2.02
- Resistance: Close to $2.94
Recent momentum has weakened, with the $2.94 resistance acting as a crucial ceiling. Holding support near $2.02 is essential to avoid deeper losses.
Monthly Outlook
On the monthly scale, XRP’s trading range is wider:
- Support: About $1.40
- Resistance: Around $3.29
A move above $3.29 would signal renewed bullish sentiment, while a drop below $1.40 might trigger a significant correction.
Technical Signals and Projections
A potential bearish head and shoulders pattern forming, which could indicate a correction exceeding 50% if XRP drops below $2.00. Momentum indicators also suggest caution; the Relative Strength Index (RSI) is declining and the Moving Average Convergence Divergence (MACD) shows bearish divergence.
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Early April Prediction
Two scenarios emerge for early April:
Bullish: If XRP overcomes the $2.64 resistance and sustains momentum, it could challenge the $2.94 level and potentially climb above $3.00, moving toward $3.29.
Bearish: Alternatively, intensified selling pressure may push XRP below $2.00, potentially dropping into the $1.80–$1.40 range, with a sustained breach of $1.40 possibly marking a prolonged bearish phase.
In this volatile environment, closely monitoring these key levels and technical indicators will be essential for traders assessing XRP’s 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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