$XRP

XRP Price Analysis

XRP's recent trend is a bit anxious! Buyers have tried to break through the resistance line several times but failed. It seems that the price may have to "fight a protracted war" in the triangle area. Is it a strong breakthrough by the bulls, or a counterattack by the bears? Let's analyze it carefully!

Shock situation: XRP has tried many times near the resistance line but failed, and the bulls seem to lack stamina. At the same time, the bears have temporarily failed to pull down the key support, causing the price to continue to consolidate inside the triangle.

20-day moving average support ($2.30): If the price falls below this point, XRP may accelerate to the lower track of the triangle.

Downward support: $2.30 (20-day moving average): short-term bulls' defense line, falling below this point may lead to the advantage of the bears.

$1.98 (38.2% Fibonacci retracement): the first target support.

$1.70: Strong support area, bulls must defend, otherwise the downward space will open further.

Upward resistance: Triangle resistance line: The current strong pressure area, only after breaking through it can it continue to attack.

$2.63: The first target after breaking through the resistance line.

$2.91: The final sprint target of bulls.

XRP's long-short battle is brewing. Whether it breaks through the resistance line upward or falls below the support line, it may bring a wave of trending market. Focus on whether the support of $2.30 can be maintained, and the timing of the breakthrough of the triangle resistance line. Seize the opportunity, "long and short" can make more money!