If XRP falls under this support, the following levels to view are around $ 2.05 and $ 2.00. A drop under $ 2.00 can indicate a larger decrease in the coming days or weeks.
Inverse main and shoulder pattern in progress?
From a technical point of view, XRP may be a reverse head and shoulder pattern on the daily period. This is often seen as a bullish setup.
To confirm this pattern, XRP has to bounce higher in the coming days and break the Golden Pocket Resistance Zone between $ 2.56 and $ 2.62. A confirmed outbreak above $ 2.62 could open the doors for a strong meeting for new all-time highlights.
For now, however, this pattern is only a possibility – it has not yet been confirmed.
Resistance areas that can delay the progress of XRP
Before XRP reaches the Golden Pocket Resistance, it is confronted with other challenges. The price must be the resistance levels around $ 2.33 to $ 2.34 and then again near $ 2.43 to $ 2.44. Another important barrier is $ 2.48, which has been an important swing level in the past.
These areas can lead to withdrawal in the short term or breaks while traders take a profit and re -assess the market situation.
Market reaction: a bounce in progress
In the shorter term, XRP shows a small leap, often a Golf-four strout mentioned in technical analysis. This small movement happened after the price support had tested around $ 2.07 to $ 2.08. Although the price has not fully reached the expected $ 2.06, the reaction suggests that traders are still active around these levels.