The price of XRP, like the rest of the cryptography market, is faced with a short -term decline. On the daily delay, XRP has lost momentum while Bitcoin cools down, and as most Altcoins tend to follow the Bitcoin advance, XRP is no exception. When Bitcoin plunges or moves to the side, Altcoins often react with sharper drops, and that’s exactly what is happening now.
Bitcoin domination is currently quite strong, which means that Bitcoin maintains its better value than many altcoins. This exerts additional pressure on parts like XRP, which now find it difficult to stay above important support levels. Recently, XRP slipped under a key support area around $ 2.30.
Is there a bullish motif that is formed?
With this lost level, analysts are now closely monitoring the following important area, which is between $ 2.10 and $ 2.15. If XRP does not hold here, the following significant level to monitor would be around $ 2.00, and below, there is a support nearly $ 1.80.
Interestingly, there is a bullish configuration forming on the daily graphic. There are the first signs of a reverse head and shoulder motif, which is a classic inversion formation which could refer to a larger movement up.
Short -term prospects
However, for this model to be actually played, XRP should stabilize somewhere in the $ 2 toad range, probably between $ 2.00 and $ 2.15, before bounced around $ 2.62. An escape confirmed above this upper level would be a strong bullish signal, perhaps opening the door to new heights. But for the moment, this model is only a possibility and not confirmed.
As soon as possible, XRP has also lost a little positive momentum. A short -term bullish divergence has recently failed, because the price and RSI both reduced the stockings, canceling the divergence. This indicates the potential of the downward descent in the immediate term, the next stop probably in the $ 2.10 zone.
