Analysts report signs of potential instability in XRP amid rising liquidity and pressure on support levels.
XRP Market: Technical Analysis and Support
According to technical analysis by CasiTrades, XRP is on the verge of breaking out of a long-standing macro consolidation pattern. The asset's price is merely above an important support zone, which, however, is beginning to show signs of weakness amid changing market conditions.
Key Support Levels Under Pressure
A critical support zone has been identified at $2.25. A drop below this level may lead to declines to $2.01, $1.90, and even $1.55. These targets correspond to important liquidity pools and Fibonacci retracement levels visible on the four-hour chart.
Future of XRP: Potential Market Directions
Despite these short-term risks, the overall picture suggests a possible upward trend. The levels of $3.77 and above $4.00 could be reached if the current resistance levels are broken. However, technical indicators like the Relative Strength Index indicate a potential bearish trend, further increasing the likelihood of volatility.
XRP is in a decisive period, and analysts are focusing on support levels. The future direction of the asset depends on its ability to hold at current levels.
