XRP Price Prediction, Will Weather the Storm or Succumb to the Market
- XRP is looking to bounce back from the $0.600 support, with potential for an upward movement. A break above the $0.630 resistance could trigger bullish momentum.
- Despite losing gains for the week and month, XRP is holding steady at the $0.57 level.
- Investors are closely watching the latest US jobs data and eagerly anticipating the upcoming decision from the Federal Reserve.
XRP eyes rebound at $0.600, break past $0.630 signals bullish move.
According to Coingabbar Price Analysis, Rebound rally begins with increased momentum, testing the overhead resistance trendline.
XRP price faces higher rejection amid market setback, dropping below $0.65.
5% drop and long tail formation indicate a consolidation range.
Bullish breakout attempt sees XRP surge from $0.57, testing overhead trendline.
Initial bullish momentum cools due to overhead supply, resulting in a long-wicked candle and pullback.
Failure to establish anticipated uptrend with a slanted cup and handle pattern.
XRP price reverts below $0.65, nearing bottom support of $0.60.
Ongoing correction tests patience of XRP holders; a fall below $0.57 may have significant implications.
Presently, the daily candle shows XRP trading at $0.62, forming a bearish engulfing candle.
Presence of a long wick sustains hope for bullish reversal in the coming days or hours.
XRP price recovery falls short of rechallenging $0.70, resulting in an early reversal and lower high formation.
Daily candlestick close below $0.6000 could validate bearish outlook, potentially pushing XRP price lower to $0.5500.
KEY LEVELS :
RESISTANCE LEVEL : $0.6370-$0.6500
SUPPORT LEVEL : $0.6000-$0.5800
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
