Altcoin XRPOn the morning of June 25, with a reaction from the strong ground in the $ 1,92-1.95 band, exceeding $ 2.07 and based on a critical $ 2.19-2,20 threshold. If buyers can make this barrier permanent support, the price is expected to turn to $ 2.30-2.35. The eye of the market is withdrawn to $ 2,10 in which Josh pointed to the “reverse shoulder-head-omuz” formation, and the new leap that may follow. A successful break will strengthen the likelihood of return to the horizontal consolidation zone seen at the beginning of the year.
Critical Price Test on the Threshold of $ 2.20 in XRP
The hard rise of the XRP from the $ 1,92-1.95 range confirmed the strength of a support that has not been tried and broken for weeks. Then exceeding $ 2.07 in the old support position and the new resistance area reached $ 2,19-2,20. Although the increase in volume is limited, the technical appearance strengthens the scenario in favor of the buyer if this region becomes permanent.
Analyst JoshIn the daily graph, the “reverse shoulder-head-omuz” formation is closely followed. This scenario is based on the increase in the price of $ 2,30 and withdrawal for $ 2,10, and then with a strong recovery of over 2.35 dollars. If the formation works, the market perception is expected to return to the positive way.
After this point, the first upper threshold to follow the channel resistance in $ 2.45. Volluctive candle closures, which will be over $ 2,35, will increase the potential to test and even overcome the trend line.
Rise and decrease scenarios for XRP
If buyers manage to keep the price of XRP above $ 2.35 altcoin‘s frequently seen during the year to return to the horizontal consolidation zone will start a new rise movement extending to $ 5. Short -term target is breaking the trend line of $ 2,45. In the medium term, the psychological threshold of 5 dollars is expected to be tested.
However, if the seller pressure is strengthened and the price falls below the bottom level in April, the rise scenario may turn into a decrease correction. In this case, the first strong support stands out as $ 1,21. It will invalidate the possibility of formation down and will deepen the wave of correction.
For now, as long as the bottom of $ 1,92-1.95 can be protected, positive. The task of the bulls is to turn the $ 2,20 into support and to quickly reclaim the area over 2.35 dollars.
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.
