XRP May Face Further Pullback as Key Support Nears $2.65 Amid Weakening Momentum Signals
Main Idea
XRP is experiencing a 22% correction after peaking near $3.70, with bearish momentum indicators and critical support at $2.65 being closely monitored to determine if further declines will occur.
Key Points
1. XRP dropped 22% from its $3.70 high, signaling short-term exhaustion via a TD Sequential 9-count and rising sell volume.
2. RSI at 45.16 and a bearish MACD crossover indicate weakening momentum as price tests the key $2.65 support level.
3. XRP faces resistance between $2.95 and $3.00, a zone that previously served as support but now acts as a barrier.
4. If $2.65 support breaks, XRP may drop to $2.30–$2.40 or even $1.93, aligned with historical volume accumulation zones.
5. Despite the current correction, XRP maintains a broadly bullish trend, but consolidation is needed.
Description
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