XRPshining with a strong price structure in the short term. Altcoin gives the upward movement signal by clinging to significant support levels. While the fluctuations in the crypto currency market continue, the current price structure of XRP attracts attention. The XRP, which was traded below $ 3,10 during writing, has lost more than 1 percent in the last 24 hours.
XRP holds on the critical support zone
After withdrawing in the middle of January XRP Coin It fell to the support zone between 2.52 and $ 2.68. This region is seen as a critical limit in terms of the direction of the price. Although the market does not react to these levels, the protection of this range is an important sign.
$[mcrypto coin=”XRP” currency=”USD”] XRP Coin Price AnalysisIf XRP price If it is held at $ 2.65, the market can be prepared for a new rise movement. Analysts say that the price attached to this level can start a movement towards the $ 4.20 to $ 5. The current wave of decrease is technically considered as a correction process. If this process is completed as expected, a new wave of rise may begin.
On the other hand, if the price goes below $ 2.76, sales pressure may increase. In this case, the XRP may move back to $ 2.52 again. In such a scenario, investors need to be careful.
Resistance points in XRP price will be decisive
In order for the XRP to maintain the upward movement, certain resistance levels need to be broken. First of all, exceeding the $ 3.21 level can allow the price to gain upward acceleration. For a stronger rise, the level of $ 3.40 needs to be passed.
As long as these levels are not exceeded, the price seems possible to move in a narrow range. It is also possible to re -test the support area between 2.76 and $ 2.97. If the XRP rises above $ 3,21, the market can confirm the rise trend.
Technical analysts foresee that new purchase waves can begin with the exceeding these levels. However, if the price decreases below $ 2.76, a wider correction movement may be activated. In this scenario, it is important that investors closely follow the resistance points.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
