XRP is demonstrating volatility in the market, with analysts suggesting a potential price dip amid technical signals.
XRP’s Bearish Patterns Continue To Unfold
The trading pattern of XRP signals a bearish trend, notably with a head-and-shoulders formation at a neckline around $1.90.
Analysts suggest that if XRP falls below this level, it could mark the beginning of a bearish run.
Key XRP Price Support Levels in Focus
Following Elliott Wave structure, XRP has reacted as expected on Fibonacci levels, approaching the 0.618 level near $1.55. The $1.81 level is viewed as critical support, with a drop below it confirming the possibility of a bearish wave.
Market Analysts Remain Cautious
Analysts are monitoring the market for signs of reversal. EGRAG pointed out a potential bullish cross on the XRP/BTC chart, which has historically led to rallies, urging caution.
Despite the recent surge, XRP faces bearish signals and market uncertainty. Traders and investors are advised to pay attention to key support levels for further price movement assessment.
