XRP is currently showing promising signs in the short-term, with the price responding positively to key support levels. After experiencing a consolidation phase, the chart indicates a solid bullish setup that has been taking shape in recent weeks. As of now, XRP is trading below $3.10, down slightly by more than 1% in the last 24 hours. However, the market’s reaction to recent support zones suggests that a potential upward movement could be on the horizon.
Current Price Action and Support Zones
XRP faced a pullback in mid-January, dipping into a crucial support area between $2.52 and $2.68. While the price didn’t immediately break out upwards, this range remains key for determining the next move. The fact that XRP has managed to stay above this support zone signals that the market is respecting these levels, and a potential rebound could be in the cards. If the price maintains its position above $2.65, XRP’s prospects remain positive.
Key Price Levels to Watch
To confirm that a low has been established and the second wave of correction is complete, XRP must maintain its current low of around $2.65. If this level holds, XRP could rally towards the $4.20–$5 range, marking a significant shift in its trajectory. As experts view wave two as a corrective phase, they anticipate trend continuation beyond this period.
Critical Breakout Levels
For XRP to solidify its bullish trend, it needs to break through critical resistance levels. The first hurdle is clearing $3.21, followed by a move above $3.40. Until these levels are surpassed, XRP may remain in a range, with a possible retest of the support zone between $2.76 and $2.97. A drop below $2.76 could trigger a larger corrective phase, potentially pushing XRP’s price back to $2.52.
With these critical levels in mind, XRP’s next moves will determine whether it can continue its bullish momentum or face further consolidation.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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