XRP prices have dropped dramatically which leads investors to wonder about future market trends. The $2.2 level currently holds XRP price but analysts wonder if the asset will hold steady or tumble to $1.70. The market watches both pivotal support and resistance points to estimate what future movements the token will make.
XRP Price Faces Renewed Selling Pressure
XRP’s value declined by almost 4% during initial US trading periods demonstrating a change in investor buying perspective. One-day trading activity for the token diminishes by 29 percent to reach $6.86 billion while market involvement indicates a reduction. Market indicators suggest that the Relative Strength Index (RSI) now approaches an oversold state because investors intensively sell XRP.
Market analytics indicate that whales and substantial investors have transferred more than 370 million XRP coins to different exchange locations. Recent large transactions have been a major factor in causing the asset to move downwards. XRP futures open interest dropped 2% according to data from Coinglass which demonstrates decreased trading confidence at this time.
Will XRP Drop Below $2? Analysts Weigh In
Crypto analyst CasiTrades warns that XRP has yet to complete its correction cycle because he forecasts prices will reach $1.97. Several traders identified more significant price losses in the future for this asset because one user spotted a Head and Shoulders pattern that could flush XRP to $1.75.
CasiTrades accepted the risk of further price deterioration while indicating that technical analysis did not indicate such severe losses. XRP’s correction might be reaching an end because the analysis shows bullish divergence on longer time frames. XRP’s price movement depends on Bitcoin’s present support testing at the .382 Fibonacci level. XRP would potentially recover when Bitcoin maintains stability.
Key Support and Resistance Levels for XRP
Analyst EGRAG CRYPTO indicates XRP will continue its upward trend if the market price remains above $2.35. The asset could achieve $3 within the coming period as long as it upholds this support level successfully. XRP faces enhanced selling pressure if it closes below $2.2 which could direct its price decrease toward $1.7.
Profit and loss indicators were identified by the analyst who pointed out “The next sign of support will activate at $1.7 if XRP falls below the $2.2 mark.” If XRP starts to recover the resistance levels of $2.44, $2.99, and $5.85 will potentially block its upward movement.
Can XRP Reclaim Bullish Momentum?
According to market expert Dark Defender XRP RSI has approached an oversold level that typically brings about price recovery. According to the analyst. XRP might advance toward $3.4 when it manages to stay above $2.35. XRP could begin a rise toward $5 with a potential extension to $8 when it surpasses $3.
Market enthusiasts should monitor support levels at $1.88 and $1.91 because they could act as protective safeguards during a sustained downward trend. Predictions indicate that XRP will face its next important resistance barrier when bulls take control at $2.99. Market analysts follow these particular price points to determine whether XRP prices will make a comeback or stay declining.
The mixed technical data along with shifting market sentiment positions XRP as a testing spot for its immediate future. The market movement of Bitcoin coupled with general market patterns should guide investors when determining XRP’s probable next direction.
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