Analyst to XRP Holders: We Are In Trouble If This Support Fails to Hold
Main Idea
XRP is at a critical support level of $2.930, and failure to hold this level could lead to a sharp decline, while recovery depends on closing above $2.979.
Key Points
1. XRP is trading between $2.80 and $2.98 after being rejected from $3.12 earlier in the week.
2. The $2.930 support level is crucial; if it fails, XRP may drop to the mid-$2.80 range.
3. A recovery requires XRP to close above $2.979, which could lead to a retest of $3.05 or $3.12.
4. Despite short-term weakness, some analysts believe XRP could reach $3.50 to $5.00 if market conditions improve.
5. The broader crypto market's cautious sentiment, with Bitcoin below $113,000 and Ethereum below $3,500, may impact XRP's momentum.
Description
XRP is facing a critical moment as price action tightens and volatility increases. According to crypto analyst Cryptoes, the asset is now hovering dangerously close to a key support level around $2.930. In a recent post on X, Cryptoes warned that a failure to hold this level could trigger a sharp decline. On the other hand, a recovery hinges on XRP closing an hourly candle above $2.979, a resistance zone marked in red on his chart. Key Support Under Pressure XRP is trading in a narrow and uncert...
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