Ripple Price Warning: XRP Could Tumble if This Crucial Support Cracks (Analysis)
Main Idea
Ripple (XRP) has shown a strong bullish trend recently, breaking key resistance levels but facing potential short-term pullbacks due to overbought conditions.
Key Points
1. XRP surpassed the $3.30 resistance level against USDT, continuing a rally that began in early July.
2. Early signs of rejection at the $3.30 level are observed, with the $3.00 level acting as short-term support.
3. A break below $3.00 could lead to a decline toward the $2.40 region, where moving averages converge.
4. XRP/BTC chart shows a similar trend, with resistance at 3,200 SAT and a retest of a bullish fair value gap near 2,700 SAT.
5. Despite the bullish trend, short-term caution is advised due to potential overbought conditions.
Description
Following Bitcoin’s record-breaking rally, Ripple (XRP) has experienced a notable uptrend in recent weeks, establishing a strong bullish market structure across both its USDT and BTC trading pairs. However, the current price action indicates a potential overextension, suggesting a short-term correction or consolidation phase may occur before further upside continuation. Technical Analysis By ShayanMarkets The USDT Pair XRP has recently surpassed the significant $3.30 resistance level against USD...
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