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XRP continues to trade in a sideways pattern with no major changes in its price trend. On the larger time frame, the price is holding above the important support level of $2, but momentum remains weak. The market appears to be in a holding phase, with limited direction in recent days.
Experts are watching XRP’s price pattern and believe it’s still going through a correction. At first, it looked like a triangle shape, but now it seems to be forming a more typical pullback pattern called an ABC correction, which could take more time to finish.
Important Support and Resistance Levels
In the shorter time frame, there’s some speculation that a low may have formed on April 7, but there is not yet enough evidence to confirm this. The recent move up is unclear and could simply be part of a temporary correction within a larger downtrend.
Support between $1.74 and $2.30 is being watched. As long as the price stays above $1.74, the potential for a bullish reversal remains. However, traders are looking for a strong move above $2.25 to confirm a new upward trend. This would signal the start of a C-wave rally, possibly leading to higher highs.
Until then, the market remains uncertain. XRP briefly broke below a previous support level but has started to recover. While it’s possible that a bottom is in, there is still a chance the price could fall again before turning higher, with $2.30 seen as the next support if that happens.
The long-term forecast still includes a possible rally, with targets between $5.00 and $6.60, but these will only come into focus once a clear bottom is confirmed and the market shows strong upward momentum.