Latest Analysis of XRP’s Price
The latest analysis of XRP’s price chart suggests that the cryptocurrency has likely reached its bottom, with predictions of a potential rise. Looking at the daily chart, XRP has been trading sideways, bouncing between a major support level and resistance. Currently, there is resistance between $2.65 and $2.80. On the downside, significant support is around $2.50, with a stronger support zone between $2.25 and $2.30.
Resistance Levels
Analyst Josh from Crypto World indicates that the primary resistance zone for XRP is between $2.65 and $2.80. The price has yet to break this range; until it does, upward movement remains limited. A close above $2.80 with confirmed candles could lead to continued upward movement towards $3. However, reaching $3 could bring additional resistance.
Support Levels
On the downside, there is decent support for XRP at around $2.50. If the price drops below this level, stronger support is found in the $2.25 to $2.30 range. Failure to hold these levels could indicate further downside potential.
Long-Term Predictions
In the larger time frame, XRP began a rally in July, following a potential upward structure. The key support area remains between $1.20 and $1.27; as long as the price stays above this range, the bullish outlook stays intact. The sideways range between $1.20 and $4.20 has been a typical pattern for XRP and may continue for a while. The current price movement suggests that the upside may still be incomplete and a break above the previous highs of $2.65 to $2.80 could signal a continuation toward the $5-$6 target range for the next cycle.
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