XRP continues its downward correction as selling pressure forces a break below $2.42. The price is now approaching the $2.35 – $2.30 zone, which aligns with an uptrend line on the 1-hour chart. This makes it a key support level where buyers must step in to prevent deeper losses.
$2.30: A Key Defensive Zone for Buyers
With XRP declining, the $2.35 – $2.30 region is emerging as a crucial support zone. Since this area coincides with the trend line, buyers may attempt to defend it to trigger a rebound. A successful hold at this level could push XRP back toward $2.42. If bullish momentum builds, the price may climb further to $2.59, with the potential to reach $2.71.
Bullish Outlook: Path Toward $3
If XRP reclaims $2.42, it could strengthen buying momentum. A decisive breakout above $2.71 would clear the path for a run toward $3, signaling a recovery from the ongoing correction. This move could reinforce bullish sentiment and shift market dynamics in favor of buyers.
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Bearish Scenario: Potential Drop to $2 or Lower
Failure to hold $2.30 could expose XRP to further losses, with $2.20 as the next support level. If selling pressure intensifies, the price may slide into the $2.00 – $1.80 zone, increasing bearish dominance and weakening market confidence.
Market Outlook: XRP at a Turning Point
XRP’s next move depends on whether buyers can hold $2.30 or if sellers push the price lower. A rebound could spark recovery, while a breakdown may trigger deeper declines. Traders should watch these key levels to anticipate XRP’s direction.
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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