Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but offers mentioned may no longer be available.
The truth of that XRP It fell below a crucial $3 threshold indicating a change in its recent uptrend. If this collapse does not happen immediately, it could lead to further declines. With the current price hovering around $2,185, XRP is at a turning point that dictates its short-term future. turn.
The loss of important support, which now becomes resistance, is highlighted by a drop below $3. It is necessary to regain this level with significant volume and buying pressure XRP To return to its bullish position. But for now, investors are focusing on three crucial price points to determine the future path of the asset. The 50-day moving average is in line with the first important level, which is $2.62.
A bounce at this level may indicate a potential reversal as it has been a support area during previous corrections. Failure to maintain this level, though, can lead to additional declines. Watch for the next level at $2.03, which is the 100-day moving average. Since it is a more fundamental support level, this area is important because it may attract buyers looking for a more solid base.
Related to
XRP may consolidate before going ahead if it hits this level. The last level to watch is $1.50, which is also the location of the 200-day moving average and a psychological support level. Long-term investors may have a great opportunity to buy XRP if it drops to this level, which indicates a complete pullback of the recent rally. Although the outlook now looks pessimistic, if... XRP It can settle and gain momentum again, a reversal is still possible.
The benefit of buying a buyback and the possibility of restarting the uptrend will be indicated by a return above $3 with higher volume. Given its collapse below $3, XRP is now in a complicated situation. The $2.62, $2.03, and $1.50 levels are more important thresholds that investors may want to stay within. A reversal is possible, but overcoming the current bearish sentiment will be a tough case for XRP.
Source link