XRP Price Trend Analysis and Outlook

1. Current Price Situation

The current trading price of XRP is slightly above $2.40, having pulled back from a local peak, or forming a horizontal triangle, indicating market hesitation and a balance between bulls and bears. This pattern is narrowing, suggesting a forthcoming breakout that will initiate a new trend.

2. Support and Resistance Analysis

(1) Key Support Level

Around $2.28 is the key support level for XRP. If the price falls below this level, the trend may change and slide towards the $2 - $2.23 range for testing. At that time, pessimistic sentiment will spread, and selling pressure will increase, making the XRP market weaker.

(2) Major Resistance Level

$2.53 is currently the major resistance level for XRP. If it can successfully break through, it will be a positive signal for the bulls, and the price is expected to break free from the consolidation, beginning an upward trend towards the $2.64 - $2.76 range. When breaking through the resistance level, market optimism will rise, attracting more buying pressure, providing momentum for further price increases and helping XRP move towards a higher price range.

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