Critical $2.20 Support Level XRP Battles

Over the previous several days, XRP has fallen with the cryptocurrency market. In spite of this pause, the XRP price has maintained its important support levels and is preparing itself for a comeback.

XRP's technical analysis suggests watching $2.20. Popular crypto researcher highlighted that XRP's next significant move might depend on this milestone.

Important Levels: $2.20 Support, $2.70 Resistance

Since December 17, Bitcoin's fall below support levels has caused substantial price adjustments across cryptocurrencies. XRP fell from $2.708 on December 17 to $1.98 on December 20. This was 27% in 3 days.

XRP recovered around $2 after reaching $1.98. XRP is trading about $2.2, down 7% weekly.

Based on XRP's swing around $2.2, crypto expert Ali Martinez recommended two directions. Ali Martinez believes XRP's short-term optimistic prognosis depends on holding above $2.20.

If this level holds, the token may consolidate, but another try at $2.70 resistance looms. Strong positive momentum over $2.7 might push the cryptocurrency beyond $3 for the first time in years. However, a break below $2.20 might cause XRP to drop below $1.96 before new buyers appear.

Santiment on-chain analytics implies whales are interested in XRP during this slump. Whale accounts owning 1 million to 10 million XRP tokens have added 80 million XRP since December 17, indicating great trust in the token's long-term potential. This stockpiling might protect against additional dips below $2 and lay the groundwork for a comeback.


Elliott impulse wave analysis of the XRP price reveals that the current drop below $2 may signal the conclusion of the second impluse wave, a corrective wave, adding to the optimistic view. Given this, bullish impulse wave 3 should begin shortly.

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