After XRP's recent upward trend, investors are becoming increasingly concerned about its direction as it breaks below the key support line. However, the overall trend still maintains a bullish structure, and the recovery of key price ranges is expected to be the turning point for potential sharp increases.
Currently, XRP is showing a pattern of gradually raising its highs and lows, still implying a technically strong trend. Despite short-term declines, analysts suggest that a trend reversal has not yet been confirmed. The premise is maintaining support in the $2.90 to $3.00 range.
Recently, XRP has broken below the support line of $3.40 that had been maintained. Since this range had provided strong support for about a week, this breakout could potentially shake market sentiment. Experts predict that prices may consolidate or adjust, forming a box range. The upper resistance is concentrated between $3.30 and $3.40.
The key to a reversal is clear. If XRP reclaims and settles above $3.25 to $3.30, the next target could be the long-term resistance between $4.60 and $4.70. This range is a conversion zone where a cluster has formed based on past Fibonacci ratios and historical supply levels.
Conversely, if the decline deepens, the $2.75 and $2.25 levels are expected to serve as the next practical defense lines. These ranges have repeatedly provided support within XRP's long-term cycle.
In summary, XRP is interpreted as being in a phase of short-term adjustment and technical consolidation, rather than a clear downward reversal. The defense of key support lines is seen as the key to future trends. The short-term watershed that the market is watching is the recovery of $3.30.
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