Ripple Price Analysis: XRP Must Maintain This Level to Avoid a Major Correction
Main Idea
Ripple's native token (XRP) has shown bullish momentum, breaking key resistance levels but faces short-term consolidation with potential for further gains if support holds.
Key Points
1. XRP broke above the $3.00 psychological resistance level following a rally that began in early July.
2. The 100-day and 200-day moving averages provided support, with a bullish crossover around $2.50.
3. The price is currently above the $3.00 support zone, but short-term momentum is waning as RSI falls below the overbought threshold.
4. XRP/BTC chart shows a similar trend, with resistance at 3,000 SAT and a retest of a bullish fair value gap near 2,700 SAT.
5. A breakout above 3,200 SAT resistance is possible, but failure to hold support could lead to a decline towards 2,400 SAT or 2,000 SAT.
Description
Ripple’s native token has extended its bullish momentum in alignment with Bitcoin’s continued strength, sustaining a well-defined uptrend against both USDT and BTC. However, recent price behavior suggests that the market might be temporarily pausing for a correction or consolidation, as signs of exhaustion begin to emerge across both pairs. Technical Analysis By ShayanMarkets The USDT Pair XRP recently broke above the psychological resistance level at $3.00, following a powerful rally that began...
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