Four days of losses, XRP fell to a decisive resistance level that turned to $ 2.17. Although the declining trend has continued, there are indications that it may be modified, which indicates that a major change in the market mood may be imminent. XRP is not in a bad place in general, even with iron He falls.
Over the past few months, the original has maintained a strong upward trend, and the current decline appears to be a natural correction and not a complete collapse. With the main procedure now at a large resistance level, traders closely monitor XRP to find out what you will do after that. The three scenarios are probably listed below. The reversion is from the 2.17 dollar support level, which will start raising, one scenario is possible.
XRP may return to $ 2.60 -2.73 dollars where there are now 50 EMA if this scenario is realized. In addition to confirmation of strength, the successful restoration of this level can pave the way for a later attempt to fracture over $ 3.00 in the coming weeks. If buyers enter the market but do not move quickly, XRP may stop in its current range. The future movement may start with a side unification period ranging between $ 2.17 and $ 2.40.
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The market will be able to settle and collect enough volume for potential penetration in either direction as a result. In the worst cases scenario, XRP will completely lose the level of $ 2.17, which may lead it to the historically high level of support of $ 1.63. Although it is not the best option for bulls, this is likely to be the last defense line before buyers intervene strongly to stop a more severe decrease.
Despite the fact that the XRP has been struggling recently, the downward trend slowed, which may be a good thing. Next trading sessions are very important because the current resistance test will affect whether XRP is recovering, merged or decreased.
