XRP (XRP) has once again caught the attention of the crypto market. On the 4th local time, the price of XRP surged by more than 20% in 24 hours and successfully broke through $2.50. It is currently challenging the important level of $3. This recovery was triggered by strong buying pressure at the important support level between $2.13 and $2.22. Market analysts say that this technical recovery could take XRP to the important levels of $4.19, $5 or even as high as $6.62.
Meanwhile, Bitcoin (BTC) has managed to break through the $100,000 level, which is a significant positive factor affecting the overall crypto market. However, on the weekly chart, XRP is still trending down by more than 18%, reflecting mixed signals that investors should consider carefully.
On the short-term chart, XRP has temporarily fallen below the $2.64 level before recovering again. Elliott wave analysis shows that XRP has bounced between $2.72 and $2.22, with $2.96 acting as a key support level that investors are closely watching to see if it can sustain the price.
For XRP to continue to soar in the long run, it is crucial to maintain the Fibonacci Retracement support level at $1.90 (78.6%). XRP could continue its upward wave pattern or extend its consolidation in the short term. The highly volatile market means that its next move will be significant in indicating the trend.
Crypto investors are watching to see if XRP’s rally is just a short-term bounce or if it will become a turning point leading to a longer-term bullish trend.
ความคิดเห็น 0