On the 4-hour timeframe, XRP recently faced resistance at $1.30, leading to a phase of consolidation. The broader sentiment has turned slightly bearish due to a lack of follow-through in recent upward momentum. Key indicators suggest declining volume and a struggle to sustain higher highs, which could signal potential corrective movement.
Support levels to watch...
Bitcoin trades at $97,350 but faces selling pressure from long-term holders. Short positions are growing (61% on Binance), signaling resistance near $100,000. If support at $70,000 breaks, a drop to $66,448 or lower is possible.
XRP is currently trading around $1 after breaking key resistance levels, supported by strong buying momentum. Analysts suggest that sustained movement above $0.66 could trigger further bullish momentum, with targets at $1.28 or $2. Key factors include adoption by financial institutions for cross-border payments and potential regulatory clarity benefiting Ripple....
Up and Down
Currently in a downtrend, trading below key moving averages, which signals bearish momentum. Support is around $5.00, with resistance at $5.50 and $6.00.
If it breaks above these levels with volume, it may indicate a short-term bullish reversal.
The RSI shows oversold conditions, suggesting a possible bounce if buyers step in
Time to buy and hold...
