After the last sharp drop in the XRP market, the mood of investors has deteriorated significantly. Buyers were unable to keep the range of $0.44-0.46 we wrote about in the previous idea:
The price found support in the next range of $0.36-0.38. So far, buyers have managed to slow down the decline and form consolidation with limit orders. However, for a new growth trend, buyers need to withstand a new blow in the range of $0.36-0.38, which is likely to happen.
Keeping the XRP price above this range will open the way for buyers to $0.44-0.46. Above $ 0.46, buyers will have a chance to continue to confidently increase the price of XRP.
If we look at the chart of the XRPBTC pair, we see that the fall wave from February 1 corrected the previous wave of growth by 78.6%. Buyers carefully maintain this level. Therefore, the chances of XRP resurrection are still there.
Losing the range of $0.36-0.38 will quickly lower the price of XRP to $0.31.
___________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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The price found support in the next range of $0.36-0.38. So far, buyers have managed to slow down the decline and form consolidation with limit orders. However, for a new growth trend, buyers need to withstand a new blow in the range of $0.36-0.38, which is likely to happen.
Keeping the XRP price above this range will open the way for buyers to $0.44-0.46. Above $ 0.46, buyers will have a chance to continue to confidently increase the price of XRP.
If we look at the chart of the XRPBTC pair, we see that the fall wave from February 1 corrected the previous wave of growth by 78.6%. Buyers carefully maintain this level. Therefore, the chances of XRP resurrection are still there.
Losing the range of $0.36-0.38 will quickly lower the price of XRP to $0.31.
___________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
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