XRP has experienced significant price fluctuations this month, once again falling below the $3 mark. This is attributed to sustained selling pressure in the cryptocurrency market.
Crucial $3 Threshold
Analyst SiDec points out that XRP is currently targeting the liquidity on the selling side, where leveraged investors' stop-loss orders cluster with pending buy orders. This liquidity usually accumulates just below swing lows and is swept before a price recovery. XRP's behavior indicates a search for new footing even amid short-term fluctuations.
Potential Scenarios for XRP
SiDec also suggests that waiting for confirmation can maximize investment opportunities. He emphasizes the importance of tracking signals such as order flow or delta changes, which may indicate a return of buyers to the market and impending upward pressure. Positions opened without these confirmations risk being worn down by short-term market noise.
Analyst Recommendations
Upon confirmation, SiDec marks $2.86 as the primary entry zone for the altcoin. He views the $3 band as the initial profit-taking point, targeting $3.0129 as the full goal. Should buyers fail to intervene, a drop below $2.80 would signify a deeper decline, presenting new opportunities at lower price points.
Starting with fluctuations, XRP continues to seek a stable level. Monitoring key signals may assist in identifying optimal entry points into the market.
