As a seasoned crypto investor with battle scars from the 2017 bull run and the subsequent bear market, I’ve learned to take market corrections in stride. Today, seeing XRP plummet by 11.48% is like watching my favorite sports team lose a crucial game – disappointing, but not unexpected.
The market might have entered a correction phase, according to CoinMarketCap.
XRP/USD
XRP is one of the biggest losers today, falling by 11.48%.
On an hourly timeframe, the price of XRP has rebounded from its nearby support level at $1.96. Should buyers successfully maintain control, the upward trend could potentially extend towards the $2.30 region by the next day.
Looking at the broader perspective, the value of XRP has attempted another unsuccessful breach of the $2 region. If today’s closing price strays significantly from this level, there could be a potential test of the $2.30-$2.40 zone by the end of the week.
From the midterm point of view, one should wait until the weekly candle closes.
If the pressure from sellers persists and a break below the crucial $2 region takes place, there could be sufficient momentum for a drop towards the $1.60 zone.
XRP is trading at $2.157 at press time.
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2024-12-20 16:49