$XRP’s recent performance is outstanding: technical analysis and layout strategy analysis

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Despite the volatility in the crypto market, $XRP has shown remarkable resilience at key support levels, earning the trust of investors. The following is an in-depth analysis and layout suggestions for XRP’s recent technical trends.

Technical analysis: full of resilience and clear shape

Hold on to key support levels

$XRP is showing strength above the psychological support level of $2, indicating strong market confidence in it. Compared with other currencies that are prone to correction, XRP’s resilience is particularly outstanding.

Potential W-bottom pattern at daily level

XRP is trying to build a W-bottom pattern. The key neckline is $2.6. After it breaks through and stands firm, it may have the opportunity to challenge the previous high or even reach a new high; if it does not break through, it may maintain a volatile consolidation.

Key callback levels and support analysis

Fibonacci Retracement Levels: The current price ($1.9458) has not yet reached the 1:1 retracement target of $1.72. Once market conditions deteriorate, XRP may test the 1.618 retracement level (approximately $1.1). Strong support range: $2.0 is the key daily support. If it falls below, it may further drop to the $1.89, $1.55 or $1.27 area.

Trend Signals and "Incense Burning Pattern"

The daily trend may form a "burning incense pattern". The current K-line with high trading volume and low price implies that the market lacks momentum. The performance of the next daily closing price will determine whether the trend is stable above $2.

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