XRP’s $2.80–$2.95 Support Zone May Influence Potential Short-Term Rebound Signals
Main Idea
XRP's $2.80–$2.95 support zone is a critical level for potential short-term rebound, with analysts predicting a 20% price increase by August's end if key support holds.
Key Points
1. The $2.80–$2.95 range is identified as a crucial support zone for XRP's short-term price direction and potential bullish reversal.
2. Analyst Cryptoes highlights bullish divergence signals on the four-hour timeframe, with RSI forming higher lows, indicating a possible momentum shift in favor of buyers.
3. A Dragonfly Doji candlestick pattern on the daily chart suggests strong buyer intervention after initial selling pressure.
4. XRP is forming a falling wedge pattern on the four-hour chart, with a breakout potentially triggering a 20% rally toward the $3.60–$3.65 resistance zone.
5. Maintaining the $2.80–$2.95 support zone is essential for preserving XRP's upward trajectory through August.
Description
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