XRP Expected Scenario
$XRP Reasons supporting the possibility of a drop to 1.9
1. Strong selling momentum:
• RSI(6) is at very severe oversold levels (below 5), indicating significant selling pressure.
• MACD continues in the negative direction without positive crossover signals.
2. Strong red candles:
• Recent candles reflect strong bearish momentum with few clear bounce attempts.
3. Lack of strong buying signals:
• There are no indications of buyers entering the market strongly at current support levels.
4. Next major support:
• If the current support level at 2.0758 is broken, the next major support is located around 1.9, which is a strong psychological level.
Reasons that may hinder reaching 1.9:
1. Severe oversold:
• Often, when RSI indicators reach these low levels, a bounce occurs, albeit temporarily, due to selling coverage or buyers entering.
2. Increased trading volume at current support:
• If trading volume increases at 2.07, the price may be able to consolidate and rebound.
3. No strong negative news:
• If no sudden negative news appears, it may be difficult to break important support levels easily.
Expected scenarios:
1. Continued decline to 1.9:
• If the current support at 2.07 is broken and the selling momentum increases, the price may gradually head towards 1.9.
2. Temporary rebound:
• If the price consolidates above 2.07 Buy signals have appeared, so we may see a bounce.

XRP likely to fall big, what do you think?

Selling out of greed, then you say, “I wish I had sold, so I could take the profit and wait for another buying opportunity and invest the capital with the profits.”

I didn't understand that, will there be a rise?

You are right

During the day:
• Bitcoin (BTC) recorded a low of $96,781, down 5.61% since the beginning of the day.
• Ripple (XRP) fell to $2.18, down 8.84%.

Will this negative momentum continue or will the market see a rebound soon?

What if the announcement was to raise interest?

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Brief explanation of the XRP price drop:
• Natural correction: After a quick rise to 2.4840, the price fell due to profit taking.
• Selling pressure: Whales may have made large sales.
• Support test: The price is testing the $2.34 level, and may rebound from it if the support holds.
• Technical signals: Overbought (high RSI) led to a decline.

Tip:
• If it breaks $2.34, the price may fall further.
• If it stabilizes, it may rebound towards $2.4 again.

The decision depends on monitoring the support and trading volume!

Ripple (XRP) is preparing to launch a new stablecoin called RLUSD, which is designed to be a stablecoin backed by the US dollar at a ratio of 1:1. The main goal of this currency is to provide a stable and secure means of payment for institutions to facilitate international transfers with high efficiency and low costs.

RLUSD launch date

• It was announced that the currency will be officially available for trading and testing starting in December 2024.

Stability of the currency

• RLUSD is characterized by its stable price at 1 US dollar, as it is fully backed by cash reserves or equivalent assets.

Its main goal is not speculation or making profits, but rather providing stability in the digital market to enhance global payments, especially for large companies and financial institutions.

Its importance for Ripple

• This step is part of Ripple's strategy to expand its ecosystem and increase the use of the XRP Ledger network, which may positively affect the XRP currency.

For more details, you can follow the news on official websites such as Ripple or Bybit Learn【135】【136】.

It makes sense to expect XRP to rise to $4 based on its past performance and current events. It rose to $2.9 before the new coin was announced and approved, showing a positive market response to the big news.

Why might it reach $4?

1. Positive market momentum: With the launch of RLUSD, confidence in the Ripple network and its uses is expected to increase, boosting demand for XRP.
2. Institutional interest: The launch of stablecoins enhances Ripple’s role in the global payments space, which could push the price of XRP to higher levels.
3. Recent history: The previous rise to $2.9 before the announcement shows investors’ willingness to push the price higher on strong positive news.

Factors that could support a rally to $4:

• Increased spot trading volumes.
• Continued positive market support for the coin after the launch of RLUSD.
• Absence of negative news or factors leading to a quick market correction.

Warning:

If the $4 level is reached, the price may face strong resistance, which may lead to a subsequent correction towards lower support levels, such as $3.2 or $2.6.

XRP🚀🚀