The price of XRP has experienced a significant drop after reaching a height of $3.60. However, various technical indicators suggest a potential short-term rise.
Price Drop of XRP After Peak
XRP's price declined after sell signals on the 3-day chart, leading to a correction from $3.60 to lower levels. Technical indicators show the possibility of a short-term recovery.
Key Support Levels
Volume profile analysis highlights the significance of the $2.40 level, where high trading activity is observed. If XRP continues to fall, this level might be critical for stabilization. A break below it could lead to further losses.
Short-Term Trading Signals
On the hourly chart, XRP's price displayed a bearish trend, yet signs of recovery are emerging in MACD indicators. If the price remains above $2.90, it may again open the path to the $3.00 resistance level.
Despite the current decline, technical analysis and some indicators suggest the possibility of a short-term recovery for XRP. However, confidence requires holding key support levels.
