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XRP’s price action has been choppy and sideways, with no clear pattern emerging. At present, there’s no indication of a strong trend or reversal, leaving the market in a state of indecision. XRP is moving within a possible triangle pattern, but it’s still uncertain if this will resolve in an upward or downward breakout. At the time of writing, XRP is trading at $2.10.
Bitcoin’s Influence on XRP
Bitcoin’s recent decline suggests further downside could be in store for altcoins, including XRP. However, XRP is currently sitting at a micro support zone between $2.04 and $2.21. This level is providing some support, but it’s not strong enough to confirm a reversal or significant price action.
Price Targets and Key Levels
If XRP continues to consolidate, the price may aim for a higher level within the range, potentially reaching around $2.50. However, there’s no clear hint yet that a price surge is coming. If the price breaks below the $2.04 support level, this could signal a deeper decline, with the next potential support area lying around $1.8.
Blue Scenario: Deeper Decline
If XRP drops below $2.04, the likelihood of a more significant price correction increases. In this case, the next support levels to watch would be $1.8, $1.63, and $1.53. A further drop could see price levels approaching $1.36–$1.39, where a stronger buying response might be seen.
Coinpedia Analysis (Short Term):
XRP’s price is currently facing resistance at key levels, $2.2857 and $2.2821, suggesting strong overhead pressure. Additional resistance is found at $2.2442 and $2.2131, with a potential retracement seen at the 38.2% level from the 4-week low, which is near $2.1807. The Pivot Point is set at $2.1648, while the previous close stands at $2.1441, and the last price is at $2.1037, indicating bearish sentiment in the market.
At this point, the outlook for XRP is cautiously neutral. If the price holds above $2.0958, it may attempt a move towards higher resistance levels. However, if the price breaks below $2.0707, it could face further declines, with the next key support area near $2.0475.