XRP is currently hovering around the $2.80 level, sitting precisely at the 0.5 Fibonacci retracement zone, which has been acting as a strong support level in recent sessions.
📉 Technical Structure:
* Price action has formed a descending triangle pattern, indicating a period of consolidation following the sharp rally in July.
* The 0.5 Fibonacci level ($2.80) is a critical zone to watch; a strong bounce here could signal renewed bullish momentum.
* A break below $2.80 could open the doors for a retest of the 0.618 Fibonacci level ($2.60) or even deeper support near $2.00.
* On the upside, a breakout above the descending trendline would be the first sign of strength, potentially driving XRP back towards $3.40–$3.80 resistance levels.
⚠️ Key Takeaway:
XRP is at a make-or-break level. Bulls must defend $2.80 to keep the broader uptrend intact, while bears are eyeing a decisive breakdown to extend the correction phase. Traders should stay alert for a confirmed breakout or breakdown from this tight consolidation range.
đź’ˇ Strategy Watch:
* Aggressive traders may look for long entries near $2.80 support with tight stops.
* Conservative traders can wait for confirmation: a break above the trendline for bullish momentum or a clean break below $2.80 for bearish continuation.
📉 Technical Structure:
* Price action has formed a descending triangle pattern, indicating a period of consolidation following the sharp rally in July.
* The 0.5 Fibonacci level ($2.80) is a critical zone to watch; a strong bounce here could signal renewed bullish momentum.
* A break below $2.80 could open the doors for a retest of the 0.618 Fibonacci level ($2.60) or even deeper support near $2.00.
* On the upside, a breakout above the descending trendline would be the first sign of strength, potentially driving XRP back towards $3.40–$3.80 resistance levels.
⚠️ Key Takeaway:
XRP is at a make-or-break level. Bulls must defend $2.80 to keep the broader uptrend intact, while bears are eyeing a decisive breakdown to extend the correction phase. Traders should stay alert for a confirmed breakout or breakdown from this tight consolidation range.
đź’ˇ Strategy Watch:
* Aggressive traders may look for long entries near $2.80 support with tight stops.
* Conservative traders can wait for confirmation: a break above the trendline for bullish momentum or a clean break below $2.80 for bearish continuation.
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Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.