Ripple Price Analysis: XRP Enters Consolidation Before the Next Big Move?
Main Idea
Ripple (XRP) experienced a sharp drop after a liquidity sweep above $3.4, with short-term consolidation expected around the $2.7–$3.4 range, influenced by Fibonacci retracement levels and market liquidity dynamics.
Key Points
1. XRP broke above the $3.4 high in mid-July, triggering buy-side liquidity before facing a sharp decline.
2. The price found support around the $2.7 level, aligning with the 0.5 Fibonacci retracement level, suggesting short-term consolidation.
3. A breakout above $3.1 could lead to a retest of the $3.4 high, while a drop below $2.7 may expose the $2.58 support level.
4. The price action reflects market manipulation and liquidity dynamics, with smart money exploiting key levels.
Description
After a liquidity sweep above the $3.4 high, Ripple underwent a shakeout, dropping sharply toward a key support level. However, short-term consolidation above this critical zone is anticipated. XRP Analysis By Shayanmarkets The Daily Chart XRP recently broke above the $3.4 high in mid-July, tapping into a major liquidity pool. This upward move triggered buy-side liquidity, often targeted by smart money to trigger stop-losses from over-leveraged long positions, a classic bull trap scenario. Follo...
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