Expert States XRP Next Key Support to Watch
Main Idea
An expert identifies $2.40 as the next key support level for XRP as it continues to decline from its July peak, with technical indicators suggesting further downside risk.
Key Points
1. XRP is currently trading at $2.89, continuing its descent from July’s peak, with a recent low of $2.80 tested.
2. The TD Sequential indicator flashed a sell signal on the 3-day chart, indicating further downside risk.
3. The next key support level to watch is $2.40, which aligns with a former resistance zone and the midpoint of XRP’s last significant move.
4. Technical indicators like the Relative Strength Index (RSI) suggest weak buyer interest and bearish market sentiment.
5. A break below $2.40 could lead to a deeper pullback, while holding this level might allow for a recovery toward $3.10.
Description
XRP is currently undergoing a notable pullback after reaching a local high of $3.55 in mid-July. The correction appears to be gaining momentum, and according to respected crypto analyst Ali, the decline may not yet be over. In a recent post on X, Ali revealed that the TD Sequential indicator has flashed a sell signal on the 3-day chart, pointing to further downside risk. He identifies $2.40 as the next key support level that traders should closely watch. The TD Sequential is a momentum-based ind...
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