Watch these decisive levels for XRP: Talking price analysis

The price of XRP has entered a narrow and decisive range between the averages of 100 days and 200 days, and recently faced the refusal in the critical MA, which is worth 200 days near $ 2.3.

With the construction of the declining pressure, the price is now hovering near the lower border of this range, which increases the possibility of negative outbreak and a possible corrective movement.

Written by Shayan

Daily chart

XRP recently entered a narrow and decisive price range, confined between an average of 100 days ($ 2.2) and 200 days ($ 2.3).

The last rejection of the MA for 200 days confirms a continuous presence of the sellers and highlights the lack of bullish momentum at this level. Now, XRP tests the lower border of this range near the MA 100 days. The collapse below indicates a renewed leg, which may pull the price to the support of $ 2.0, which is a recent swing.

Ripple continues to trade during a long -term descending wedge, based on the current price procedure, it appears unlikely that this structure will continue in the short term, indicating that prolonged monotheism may continue.

The graph for 4 hours

In the time frame for 4 hours, XRP had briefly separated from a convergence channel, hinting to the possible reflection of the direction.

However, after facing the rejection when resisting $ 2.3, which corresponds to a previous rise in swing, the price was recovered to re -test the upper borders of the channel. This level now works as support.

If XRP keeps this level and successfully complete the withdrawal, then there will be an increase in an increase in resistance of $ 2.3.

On the contrary, the collapse below this support would nullify the penetration and open the door to another declining step. The price will be made during the next few sessions a pivotal direction in the short term of XRP.