As a seasoned researcher with years of experience observing the cryptocurrency market, I find myself constantly reminded of the unpredictable nature of this dynamic realm. Today, as I analyze the latest trends, I can’t help but notice that the majority of coins have retreated to the red zone, and XRP is no exception.
The majority of the coins have returned to the red area, according to CoinMarketCap.
XRP/USD
The price of XRP has declined by 1.64% over the last 24 hours.
On an hourly timeframe, the price of XRP is close to the nearby resistance point at approximately $2.1761. Should buying force persist, it might lead to a breakthrough beyond this level, potentially propelling the value towards around $2.20.
On the bigger time frame, traders should focus on the nearest level of $2.1277.
If the price re-approaches it, there could be sufficient accumulated energy for a potential continued drop towards the $2.05-$2.10 price range in the near future.
Looking from a midterm perspective, the situation seems to lean towards being more pessimistic than optimistic. If bears manage to push prices out of the crucial $2 region, it’s plausible that we might witness a drop toward the $1.50 level in the coming weeks.
XRP is trading at $2.165 at press time.
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2024-12-28 16:05