XRP seemed to be straight to problems because the famous head style and the shoulders might form – a classic signal of the incoming price collapse. A break below the neckline at a price of two dollars can mean a fall, and may decrease to $ 1.50.
For a moment, this scenario seemed to be playing. The price decreased to less than $ 2, and touched a critical level. But then, something changed. Buyers intervene, and suddenly, the declining expectations are no longer confirmed anymore.
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Now, XRP has returned to the top of $ 2, as it is traded at $ 2.20, to be accurate. The neckline was not made, but it carries a firm, and this may be a turning point. If support continues to continue, XRP may have a payment space up.
The next resistance area is between $ 2.39 and $ 2.58, as it lines each of the moving averages for 23 days and 50 days. If bypassing this would give bulls more confidence, but the risk of another decline has not yet disappeared.
XRP etf Roller Coaster
Meanwhile, the area of the cryptocurrency is all in Altcoin ETF and XRP in the middle. Recently, another big player, Franklin Templeton, has been named in the mixture, calling for XRP ETF.
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This alone could have been a boost to feel. But immediately after the news, the Supreme Council of Education threw cold water. The regulator is late in many ETF applications, including XRP.
Experts say it is linked to pending Paul Attins’s confirmation as SEC president, which means that there is no last word on the investment funds circulating until April 4, 2025 at least.
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So, what next? XRP move over two dollars indicating that buyers are still controlling, at least at the present time. But the moving average for 200 days at $ 1.63 is still a factor, as the price is withdrawn like a magnet. If the bullish momentum fades, another test of lower levels is not outside the table.
