XRP at a Crossroads: Will It Break Resistance or Fall to Support?
XRP teeters on the edge—again. The crypto that just won't quit is dancing between make-or-break levels, leaving traders sweating over their lattes.
Key levels in play
Bulls want a breakout above resistance. Bears are lurking below support, ready to pounce. Same old story, but with higher stakes—and maybe more institutional money this time (or so the hopium huffers claim).
Market psychology at work
Every 5% move triggers a fresh wave of 'to-the-moon' tweets or doomsday threads. Meanwhile, Wall Street quietly shorts both sides—because why pick a team when you can profit from chaos?
Close with a smirk: If XRP actually followed textbook technicals, we'd all be retired by now.
XRP’s Potential Scenarios
Should XRP fall below the $1.79 level decisively, it could venture into a more precarious area, potentially targeting lower levels of $1.56 or even $1.21. On the contrary, if the altcoin can robustly overcome its current resistance, possibly signaling an earlier-than-expected trend shift through a clear five-wave upward formation, it might embark on a swift recovery trajectory.
In the short term, the technical setup highlights the critical importance of the $1.90 level, whose preservation or loss will be a key determining factor for XRP’s direction in the coming days.
Warnings from Analysts Regarding XRP Price Range
Seasoned analyst, Casi Trades, has issued a caution regarding XRP’s re-approach to the crucial $1.90 support level. Casi Trades points out that such “bounce-then-last-dip” moves are common before forming a solid bottom. While nothing is definitive, Casi Trades emphasizes that XRP is still swaying within a wide trading range between $2.13 and $1.55.
“This week is already tense in terms of global events and charts. This next test should be watched closely. If the reaction is strong, it could be the last dip we see before triggering the 3rd wave,” the analyst remarked, hinting to investors the necessity of closely monitoring current price movements.
Casi Trades’ analysis underscores the importance of focusing on technical levels amidst the prevailing uncertainty and being aware of the broader trading range for market participants. The strength of the reaction at the $1.90 level is expected to be the key factor determining the price direction in the NEAR future.
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