XRP Shows Signs of Recovery, Potentially Targeting $4 Amid ETF Optimism and Market Volatility
Main Idea
XRP is showing signs of recovery, potentially targeting $4 amid ETF optimism and renewed buying pressure, with key support at $2.96 and resistance at $3.66.
Key Points
1. XRP rebounded from a low of $2.96 to above $3.20, indicating renewed buying interest and potential to reach $4.
2. A liquidation cascade erased over $105 million in XRP long positions, contributing to a 6.56% weekly price drop, but the swift recovery suggests market resilience.
3. ETF-driven optimism is fueling investor sentiment, with anticipation of market expansion supporting XRP's upward momentum.
4. Technically, $2.96 is a critical support level; maintaining above $3.20 and breaking past $3.66 could confirm bullish strength and target $4.00 or higher.
5. The interplay of liquidation events and ETF-related optimism is shaping a cautiously bullish outlook for XRP.
Description
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