Technical analysis $XRP :
1. Moving averages:
• MA(7) (yellow line): at the level of 2.37 USDT, above the current price, indicating a local downtrend.
• MA(25) (pink line): at the level of 2.29 USDT, the price is nearby, signaling a phase of consolidation.
• MA(99): at the level of 1.07 USDT, acts as long-term support.
2. Volumes:
• During the rise to the level of 2.90 USDT, volumes significantly increased, indicating strong buyer interest.
• After the pullback, volumes decreased, indicating reduced market participant activity.
3. Key levels:
• Resistance: 2.90-3.00 USDT (local maximum).
• Support: 2.10-2.20 USDT (previous consolidation zone) and 1.95 USDT (minimum of the last drop).
4. Current situation:
• XRP is in a correction zone after a strong impulsive rise.
• The current price around 2.31 USDT is located between short-term MA(7) and MA(25), confirming uncertainty.
Forecast for a few days:
1. Bullish scenario:
If the price consolidates above 2.37 USDT (MA(7)), a rise to levels of 2.50-2.60 USDT is possible.
2. Bearish scenario:
If the price drops below 2.20 USDT, a move towards strong support at 1.95 USDT can be expected.