XRP Down 7.9% in 4 Days, Eyes $2.20 Support
Key Takeaways
XRP has lost 7.9% of its value over the past four days and remains in a downtrend. However, the low selling momentum could indicate a potential recovery if market sentiment improves. Long-term investors are currently experiencing similar unrealized gains and losses as they did at the 2021 peak, creating uncertainty.
Current Market Situation for XRP
The crypto market is under pressure, particularly due to uncertainties surrounding Bitcoin (BTC) and the overall macroeconomic environment. XRP failed to break above the resistance level of $2.45 after being rejected from a high of $3.
Technical indicators such as the 20- and 50-day moving averages indicate a bearish trend. The 20-day moving average is currently acting as a dynamic resistance, making short-term price increases more difficult.
Liquidation Zones and Potential Price Movements
Liquidation data highlights two key price zones: $2.20 and $2.37. Both areas could act as magnetic points for the price. In the short term, a drop to $2.20 appears more likely before a potential recovery takes place.
Opportunities for Traders
If Bitcoin stabilizes or recovers, XRP could benefit from the current weakness. A drop to $2.20 could present an opportunity for long positions, with potential targets between $2.40 and $2.45.
Our Assessment
XRP remains in a challenging market environment. However, the low selling activity could suggest that a recovery is possible if the overall market conditions improve. In the short term, the $2.20 level remains a key support zone, while $2.45 acts as resistance. Traders should closely monitor Bitcoin’s movement, as it could significantly influence XRP’s direction.
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| Symbol | XRP |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | $2.49 |
| 24h % | 8.60 % |
| 7d % | 10.93 % |
| 30d % | -6.29 % |
| 60d % | -23.72 % |
| 1y % | 321.64 % |
| Official Links | Website |
| Socials | X |
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