The price of XRP was moving quietly without any major changes during the past few days. On the daily chart, XRP recently fell to less than an important resistance level at $ 2.34. Currently, some support finds about $ 2.30, but it continues to struggle to climb up to $ 2.34, which has turned into a new resistance point.
If the price can break and remain above this level, the following goals will be about $ 2.44, then stronger resistance between $ 2.55 and $ 2.62.
Currently, the market is still in an upward trend, which means that it makes the lowest higher levels and higher levels – but a suitable bounce is needed soon to keep this upward trend.
There is also an opportunity for XRP to create a reverse and shoulder pattern on the daily chart. If this style is complete and the price is broken over $ 2.62, XRP may push its highest levels, and it may exceed $ 3. However, this style has not yet been confirmed – it still needs to form the right side of the pattern and fracture over the main resistance levels.
The movement of the market is short -term
The price was stuck between $ 2.15 and $ 2.31 with no strong step in both cases. A small decrease from five waves was seen on the highest level on Friday, but it did not lead to a greater decrease in prices.
As long as the market remains less than $ 2.43 – 2.44 dollars, there is still some downward pressure. If XRP decreases to more levels, the main support levels that must be seen are about $ 2.15 and $ 1.95. However, this withdrawal is similar to a healthy correction instead of the beginning of the main lower direction.
What is the biggest picture?
Even with this short -term weakness, the general market structure still supports upward expectations. There was a clear move from five waves from the lowest level in April to May 12, and now the market seems to be a regular decline stage. As long as XRP remains higher than the important support at $ 1.79, the long -term upward trend remains safe.
