XRP Price Retraces After Failing To Clear $2.7, More Losses Ahead?
XRP’s attempt to surpass the $2.7 resistance level has reached strong sales pressures, forcing prices to rise to a new drop. Its inability to maintain bullish momentum has changed market Emotion, the bear grabs control and pushes the altcoin to the lower. As a result, traders are now focusing on key support levels to measure the next move.
Have technology index Impressing that weaknesses are growing, the risk of further losses remains high. If bearish pressure continues, XRP may see an extended drop, thus testing the lower support zone. However, rapid recovery above critical levels may restart Bullish Hope and prevent deeper corrections.
Bear can control: XRP moves toward lower support levels
XRPAt the $2.7 resistance level of major rejection, the market control was redirected to the Bears’ hands, and as a result, the upward running lost momentum. Can’t maintain the rise breakthrough Triggering increased sales pressure, forcing prices to fall trajectory. As bearish sentiment strengthens, XRP is now getting closer to a key support zone that may determine the next phase of price action.
Technical indicators provide additional confirmation of the XRP bearish outlook, especially the fact that the price is below the 100-day simple moving average (SMA). A 100-day SMA is often seen as key long Trend indicators, when prices are always below this level, this indicates that the overall trend is weakening or shifting to a bearish phase.
Using this in conjunction with the RSI attempting to recover has begun decline After the 50% threshold is not reached. This shows that sellers are gaining the upper hand. If the downtrend continues, XRP may face testing in a lower support zone, making the next few trading sessions crucial to determining its direction.
Key support levels should be observed whether sales pressure has intensified
As sales pressures intensify, monitoring can determine the critical level of support for XRP’s next move has become crucial. The first important level to watch is the $1.9 support zone, which previously provided mats for the price during this period Call backEssence
A break below this level will mark an acceleration of negative trends, leading to a $1.7 test, another key support area. If the price is below $1.7, XRP may find itself a deeper correction that could move towards the $1.3 support area.
However, the surge bull“The intensity of these key support levels will trigger the beginning of Altcoin’s possible reversal. The rebound from the support zone of $2.2 or $2.0 may indicate that buyers are stepping in to defend these key levels, providing enough power to push prices toward the key Resist area.
