What’s Next for XRP: Will the $2 Support Hold?
If you’ve been keeping an eye on XRP’s price action, you might have noticed a bearish trend lately. Despite this, the defense of the $2 support has been impressive, with weak selling volume. But what does this mean for the future of XRP? A Bearish Outlook in the Short Term
Looking at the price charts and liquidation heatmap, it’s clear that XRP has a short-term bearish outlook.
This isn’t surprising, given the recent Bitcoin pullback that’s affected the entire crypto market. The daily timeframe also suggests a bearish XRP price prediction, with a potential drop below the $2 demand zone leading to a deeper retracement towards $1.4 or even $1. A Buying Opportunity on the Horizon?
However, this potential drop could also present a buying opportunity for swing traders looking to re-enter the market.
As we can see from the XRP/USDT chart on TradingView, the bulls and bears are currently battling for control of the $2 zone. Analyzing the Daily Timeframe
Our analysis of XRP’s daily timeframe reveals a bearish bias, with a bearish structure and a retracement phase underway. The Awesome Oscillator has crossed below the zero line, indicating that downward momentum is gaining strength.
While a drop to the 61.8% and 78.6% Fibonacci retracement levels is possible, it’s not very likely at this time due to strong buying interest in the $1.96-$2.2 demand zone. Buying Pressure Remains Steady
Despite the momentum shift, selling volume has been relatively low, as evidenced by the downward trend in volume bars over the past three weeks.
The A/D indicator continues to trend higher, signaling steady buying pressure. This suggests that the $2 support zone is still a key area of interest for buyers. Liquidity Build-up and Price Targets
The liquidation heatmap highlights the $1.98 and $2.23 regions as the next significant price targets.
While the liquidity build-up beneath the $2 support area is relatively small, it’s possible that XRP revisits these zones and reverses temporarily towards the other liquidity pocket, forming a range in the coming weeks. The Impact of Bitcoin’s Direction
As always, the direction of Bitcoin will likely play a significant role in dictating XRP’s market sentiment.
Keep an eye on Bitcoin’s movements to get a better sense of what’s in store for XRP. Disclaimer
Remember, this analysis is just our opinion and shouldn’t be taken as financial, investment, trading, or other types of advice. Always do your own research and stay informed before making any decisions.
Want to know more about XRP’s future? Check out our price prediction for 2025-26 to get a better sense of what’s on the horizon.
Source
The post “XRP Price Prediction: Bearish Outlook Ahead” appeared first on CoinBuzzFeed.
