XRP holds above $2.99 support amid market volatility: check forecast
Main Idea
XRP maintains its price above $2.99 support level amid market volatility, with potential to target the $3.2 resistance level in the near term.
Key Points
1. XRP is up nearly 2% in the last 24 hours, defending the $2.99 support level.
2. The cryptocurrency market has been volatile, with XRP and ETH adding over 2% in value while some major altcoins underperformed.
3. XRP could rally to the $3.2 resistance level if the $2.99 support holds, but faces selling pressure if it drops below this level.
4. A liquidation wave erased over $100 million in XRP long positions, contributing to market volatility.
5. The MACD and RSI indicators show bearish signals, with the RSI at 38 indicating strong selling pressure.
Description
The cryptocurrency market has been extremely volatile over the past few hours, with mixed performances recorded across the board. Bitcoin dropped to the $115k range after losing 2% of its value. However, ETH and XRP, the two leading altcoins by market cap, added over 2% to their values while some major altcoins underperformed. XRP has held strong around the $2.99 support level and could serve as the springboard for another rally. XRP maintains its price above $3 amid $105m in long liquidations X...
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