LIVEXRP Price Meets Numerous Support Levels
It's Next Target Will Shock You.
XRP lands on numerous support levels, both of them might become foundation for prolonged reversal
In the last 48 hours, XRP's price has experienced a modest 5% drop reaching $0.6. This recovery comes despite the news that Binance settled charges with the U.S. Department of Justice for $4.3 billion, which had previously led to negative market sentiment.
The XRP market is at a crossroads, with the token's price encountering multiple layers of support that may dictate its near-term trajectory. A careful examination of the XRP/USDT daily chart on Binance reveals that XRP is currently finding its footing after a period of heightened volatility.
After the recent pullback, XRP's price seems to be stabilizing above the significant support level at the $0.60 mark. This level is bolstered by the 50-day moving average (MA), which has historically acted as a dynamic support line. The proximity of the 100-day MA below it further strengthens this support zone, providing a cushion against potential downturns.
The immediate target for XRP, should the bulls maintain control, is the $0.65 resistance level. This price point has served as a pivot in recent weeks, and a convincing break above it could open the door to $0.70, a level that has previously posed a substantial challenge to the token. Conversely, if XRP fails to uphold the current support, we could see a dip toward the more formidable base around the $0.58 region, which coincides with the 100-day MA.
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