XRP is currently in a tight place. After an impressive rally which brought its price closer to the previous summits, the token has now slipped below a key support level, raising questions about its short -term management.
XRP still retains a bullish structure. It continues to form higher and higher ups, which is generally a sign of strength. This means that despite the short -term decline, XRP has not yet confirmed the start of a lower market. In fact, as long as the price remains above critical support levels, longer-term perspectives remain intact.
Recent levels of action and prices
In the short term, XRP broke below the $ 3.40 mark, which had acted as a strong level of support for more than a week. So where is XRP going from here? A scenario is a period of consolidation, where the price moves to the side in a range. Support is now located between $ 2.90 and $ 3.00, which resisted the previous corrections. Uplining, the resistance is expected between $ 3.30 and $ 3.40, the same area which recently went from support to resistance.
What does it take to happen so that XRP rallies?
For a real optimistic push, XRP should recover the area from $ 3.25 to $ 3.30 and hold above. A sustained movement above this level could open the door to a gathering at $ 4.60 at $ 4.70, where significant resistance is expected on the basis of the historic levels of Fibonacci.
On the other hand, if the price slips more, the following levels to watch would be $ 2.75 and $ 2.25, both considered as high long -term support areas.
Therefore, although XRP is still technically on a bull market, short -term panels indicate a period of consolidation.
