After a sharp 7.97% drop, XRP is now trading at around $2.04, and the next week will be crucial in determining whether it can recover or continue its decline. With key support levels under pressure, traders will need to watch carefully for signs of stabilization or further volatility.
Immediate Short-Term View (Next 2–3 Days)
- Bearish Possibility: If XRP fails to maintain $1.98, a further pullback toward $1.90–$1.95 is likely. A breakdown below $1.90 could bring the price closer to $1.80, amplifying the downward pressure.
- Potential for a Rebound: If $1.98 holds as support, XRP may attempt to climb back toward the $2.05–$2.10 range. A strong move past $2.10 could pave the way for a retest of $2.20.
Medium-Term Projection (Next 7 Days)
- Continued Downtrend: If the price drops below $1.98, the bearish head-and-shoulders pattern on the daily chart may play out, pushing XRP toward $1.80. A deeper correction could bring prices as low as $1.50, depending on market sentiment.
- Bullish Recovery: Should the bulls regain momentum, XRP could break through $2.20, potentially targeting $2.40 in the coming week, provided the broader market conditions support such a move.
Key Drivers to Watch
- Market Sentiment: XRP’s price movement will be heavily influenced by the trends in Bitcoin and Ethereum.
- Macroeconomic Factors: Investor reactions to global economic policies and changes in sentiment could increase volatility.
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- Institutional Involvement: Any positive developments regarding XRP’s adoption by institutional players could boost confidence and drive demand.
Critical Week for XRP
The next week holds significant implications for XRP. Whether it can hold the $1.98 support or breaks lower will set the tone for the short-term outlook. Traders should stay alert as the price is likely to experience heightened volatility.
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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