XRP has declined 4.37% and is now trading at a major technical confluence zone near $0.209. This level includes the value area low, 200-day moving average, and a key daily support/resistance flip, making it a pivotal zone for short-term price action.
While the presence of strong support increases the probability of a bounce, it’s important to note that price has been consolidating at this level for some time. The more often a support is tested, the weaker it becomes — raising the risk of a potential breakdown. A loss of this zone would likely trigger a liquidity sweep, targeting lower levels unless quickly reclaimed.
For bulls, a clean defense of this level with volume and a move back above recent local highs would indicate a potential rotation toward the next resistance. For bears, a breakdown without a reclaim increases the likelihood of continuation to the downside.
This current zone is an inflection point, and traders should wait for confirmation — either a strong bounce or decisive breakdown — before taking positions.
While the presence of strong support increases the probability of a bounce, it’s important to note that price has been consolidating at this level for some time. The more often a support is tested, the weaker it becomes — raising the risk of a potential breakdown. A loss of this zone would likely trigger a liquidity sweep, targeting lower levels unless quickly reclaimed.
For bulls, a clean defense of this level with volume and a move back above recent local highs would indicate a potential rotation toward the next resistance. For bears, a breakdown without a reclaim increases the likelihood of continuation to the downside.
This current zone is an inflection point, and traders should wait for confirmation — either a strong bounce or decisive breakdown — before taking positions.
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