XRP is trading at $2.11, reflecting a period of market indecision. The cryptocurrency is currently navigating a crucial phase where technical indicators hint at both bullish and bearish possibilities. Here’s an in-depth analysis of XRP’s short-term trajectory based on the 1-hour, 30-minute, and 15-minute charts.
1-Hour Chart Analysis
XRP has been consolidating within a descending triangle pattern, signaling potential breakout opportunities. The price recently tested the lower boundary near $2.50, coinciding with the 0.236 Fibonacci retracement level. This suggests that XRP might be experiencing a corrective phase before initiating a stronger upward movement. A confirmed breakout above $2.20 would indicate a bullish shift.
30-Minute Chart Analysis
On the 30-minute chart, XRP’s trend leans slightly bearish, with 57.14% of moving average signals pointing downward. The 50-period moving average also indicates the possibility of a trend reversal. However, key support at $2.00 remains intact, and a break above the $2.20 resistance level could signal renewed buying pressure.
15-Minute Chart Analysis
Short-term price action shows consolidation near the middle Bollinger Band, reflecting market indecision. Immediate support is observed at $2.05, while resistance stands at $2.15. If buyers push the price beyond this resistance, XRP could gain further momentum. Conversely, a drop below $2.05 might lead to a decline toward $1.533 before finding stability.
Future Price Direction and Expected Rebound
- Bullish Scenario: If XRP maintains support above $2.05 and successfully breaches the $2.20 resistance, it could climb toward $2.37, aligning with the 0.786 Fibonacci retracement level. This movement could develop within the next 24 to 48 hours.
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- Bearish Scenario: A breakdown below $2.05 could see XRP testing $1.533, with a potential stabilization before any significant recovery.
Based on current price dynamics, a rebound is likely within the next 48-72 hours, provided XRP sustains key support levels and gains bullish momentum. Traders should monitor these critical levels closely to anticipate market shifts.
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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