! ! ! IMPORTANT NOTE! ! ! IMPORTANT NOTE! ! ! !

Since retesting the psychological support level of $2 on December 20, XRP has been hovering between $2.4-2.13 in the past week. Is it ready to rebound again? Can it break through the new high? Old irons who hold XRP must read the article to the end.

From the structure of HTF, XRP is still bullish, but if the price cannot recover to $2.3, it is likely to continue to fall. At present, XRP has not left the risk zone

With the retreat of BTC and the weakness of the market, XRP open interest has also fallen by 54% in 3 weeks

Although XRP has attracted attention in the spot market, its futures market presents a different picture. According to CoinGlass, its open interest fell from $4.23 billion on December 3 to $1.95 billion on December 26, a drop of 54%. Such a sharp drop during the holiday means that liquidity in the XRP futures market is decreasing, which can be a double-edged sword. With the crypto asset at a critical level, the price may be more volatile than expected.

From a technical perspective, the formation of a symmetrical triangle strengthens the above argument. As observed on the 1-day chart, once volatility sets in, XRP’s price is likely to break out or break down with liquidity levels on both sides (upward and downward). The symmetrical triangle presents an equal probability of bullish or bearish outcomes.

Therefore, in line with the previous analysis, a quick recovery above $2.30 could trigger a swing to the $2.95 pattern high. However, a failure to maintain support could lead to a new swing low of $1.85, which was previously seen on December 1.

In the bull market, we must not miss any opportunity to keep the gains rolling in. If you are eager to flip your position, eager to make a big profit, and eager to get your money back, then follow Sister Hong’s steps and lay out the upcoming bull market together! Sister Hong will do her best to help you realize your dream of turning over a position in the bull market, making your investment journey easy and enjoyable!

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