Analysis of current trends in the XRP market reveals that the asset continues to trade within certain levels with minimal price changes.
Overall Market Picture of XRP
XRP continues to show sideways movement, holding above an important support level of $2. However, momentum remains weak, indicating a possible holding phase for the market. Experts note that XRP is undergoing a correction and may be forming an ABC pattern that requires further time to complete.
Key Support and Resistance Levels
Speculation points to a possible low being formed on April 7, but more evidence is needed for confirmation. Support levels between $1.74 and $2.30 are currently under observation. As long as the price stays above $1.74, there remains potential for a bullish reversal, while a move above $2.25 could signal a new upward trend.
Long-Term Outlook for XRP
The long-term forecast includes a potential rally with targets between $5.00 and $6.60. However, these scenarios will only be relevant after a clear bottom is confirmed and strong upward momentum is observed. Currently, the market remains uncertain.
At this moment, XRP is showing mixed signals. Support at $1.74 establishes potential for upward movement, but confirmation of new resistance levels is needed before expecting a sustained rally.
