XRP is showing strength after defending the $2 value area low, rejecting downside pressure from the recent swing low at $1.60. The bounce opens the door for a move back into the value area high region.
Key Points:
$2 support has held, with a confirmed swing failure pattern below $1.60.
Value area high near $2.30 aligns with descending channel resistance.
While price remains within a high time frame descending channel, the current bounce could trigger a short-term rally toward the top of the range. As long as $2 holds and volume improves, a 15% upside rotation remains likely. But without volume confirmation, price may stay range-bound.
XRP is holding key support above $2 after a swing failure at $1.60, setting up a potential 15% move toward the range high. However, low volume remains a concern, and price action may stay rotational within a descending channel until a confirmed breakout occurs.
Key Points:
$2 support has held, with a confirmed swing failure pattern below $1.60.
Value area high near $2.30 aligns with descending channel resistance.
While price remains within a high time frame descending channel, the current bounce could trigger a short-term rally toward the top of the range. As long as $2 holds and volume improves, a 15% upside rotation remains likely. But without volume confirmation, price may stay range-bound.
XRP is holding key support above $2 after a swing failure at $1.60, setting up a potential 15% move toward the range high. However, low volume remains a concern, and price action may stay rotational within a descending channel until a confirmed breakout occurs.
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Free Alpha Group t.me/freetradingden
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.