XRP has seen a decline of over 3% in the last 24 hours, reaching the $2.40 level. Key support and resistance levels, along with economic data, continue to influence the XRP price.
Key Support and Resistance Levels for XRP
XRP is currently testing a critical support level at $1.95, serving as an essential barrier. If the price falls below this level, additional weakness may occur. The next support level is at $1.75, considered a risky area for bears to gain control.
Investors Should Watch the $2.72 Threshold
The market is in a waiting period, and breaching the resistance level above $2.72 is crucial for clarity in direction. Without this, XRP may continue fluctuating within a narrow range. It's vital to monitor economic data released this week, which could increase volatility.
Expected Volatility and Expert Advice
Experts advise investors to exercise caution during this period and focus on long-term strategies. Setting stop-loss orders in a potential downturn can minimize risks. In upward movements, the $2.80 level may present short-term profit opportunities.
XRP remains at significant support and resistance levels, and this week's economic data may affect future price dynamics.
