With a recovery during the day of 4.52 %, XRP is traded at a market price of $ 2.10. This represents the re -test of the broken supply area and the early reversal of the EMA line for 200 days.
Since XRP stands at a crossroads, the fluctuating market is one of its sharp corrections. Will this XRP recovery lead to the price jump to $ 3.35, or will it be corrected to $ 1.40?
XRP price analysis
In the daily graph, the XRP price is offered a bullish failure in obtaining support at $ 2.14. With a four -day correction chain, the XRP price has created a decrease at $ 1.89.
However, recovery inside the day comes as a pre -test of the broken area. Moreover, the price of XRP has seen several low -price rejections near the $ 1.90 region.
With this rapid reflection with low -price rejection, XRP hints into a reference for the historical price. Since December 2024, XRP has maintained dominance above this level.
Moreover, the increasing EMA line comes for 200 days at work to serve as another pillow element. Currently, XRP is struggling to overcome the level of resistance to 2.15 dollars.
XRP price goals
The XRP return is likely to pushing back inside the right angle that climbs a wedge expansion and increases the chances of reflection. Moreover, it will increase the chances of apostasy for the upper resistance line.
According to the levels of the trend -based Fibonacci, the level of Fibonacci is 23.6 % at a rise of $ 3.35 is the goal of immediate price. On the other side, in the event of upward failure, dominance on the EMA line for 200 days can lead to a more severe correction. Based on price levels, the decisive support for XRP is $ 1.39 and $ 1.05.
Market conditions warn of upward positions
According to the latest tweet Written by Ali Martinez, an encryption analyst, Glassnode data reveals that the encryption market increases fear. However, the analyst notes that the best time for triumph is when others are afraid.
It is a classic saying in the encryption market and has proven to be profitable for many in this industry. Currently, the index of fear and greed fluctuates between extreme and moderate fear.
With the feelings of the declining market, Capital flows In the encryption market in the direction of deterioration. Since December 10, 2024, capital flows in the encryption market have decreased from $ 134 billion to 8.94 billion dollars.
This is a major change in capital flows, which supports the increasing fear in the market.
conclusion
Amid such circumstances, XRP is unlikely to witness any equivalent height. However, short -term recovery can challenge EMA for 50 days at $ 2.46. On the other hand, a correction gathering after the support area collapsed can witness a fluctuation near EMA for 200 days at $ 1.85.
