XRP is approaching an important moment in its price structure, where indicators signal possible market changes.
Key Moments in XRP's Price Structure
Recently, XRP has been trading within a compressed symmetrical triangle, attracting analysts' attention to the trendline of the relative strength index (RSI), which shows a significant breakdown.
Analyst CasiTrades, who is tracking this situation, emphasizes the importance of the RSI's decline as a signal of building market pressure. At the time of her analysis, XRP was priced at $2.14.
Potential Support Levels
CasiTrades noted that the current setup is part of a broader price structure designed to build energy for a significant breakout. However, according to her forecasts, it is likely that XRP will first test lower support levels before any meaningful reversal occurs.
The support level at $2.25 may flip to resistance, while key levels for keeping the asset afloat are $2.01, $1.90, and $1.55 in the event of an extended downturn.
End of Consolidation and Possible Breakout
The analyst emphasizes that XRP's current consolidation is nearing its end. Despite the slight downward bias, this should not be seen as a sign of weakness. On the contrary, it is viewed as a means to build energy for a breakout. A sharp flush and quick recovery at support levels may signal the end of the consolidation phase and initiate a run towards new highs.
The analysis of XRP's activity indicates a potential significant change in the near future, while technical support levels and price dynamics will influence further movements of the asset.
