The price of XRP has been cold recently, depending on the lead in the entire encryption market. Currently, Bitcoin maintains a better state than most Altcoins, which includes XRP. As Bitcoin’s dominance strengthens, many Altcoins, such as XRP, are struggling to keep them.
When Bitcoin moves sideways or pulled backwards, a short -term drop occurs by applying pressure to Altcoin. Currently, XRP is in the cooling stage and is experiencing some fullback.
The price of XRP is currently trapped between the level of $ 2.30 and the resistance of about $ 2.35 to about $ 2.35. If you cut more than $ 2.35 with a strong candle every day, you can move to the next resistance area between $ 2.43 to $ 2.44.
In addition, there are main resistance between $ 2.55 and $ 2.62. On the other hand, if XRP does not maintain $ 2.30 or more, the next important support level is $ 2.10 to $ 2.15.
Optimistic signal formation?
Interestingly, the 6 -hour chart has an optimistic release. Although the price is low, the RSI is slightly high. This is often the initial signal that the price bounce can proceed. But it has not been confirmed yet. Traders tend to go up with RSI, which is rising after seeing the price steadily maintained.
Bitcoin’s short -term cool off is weighed on XRP’s momentum. Even if this strong release comes out, if the bitcoin is stabilized or does not start climbing again, it may not cause serious movements. Good news is not necessarily bad news for the deeper full back to XRP.
What will happen next time
If the price drops to about $ 2.00 and get solid support, you can set a major optimistic pattern (back and shoulder) on the daily chart. This pattern is usually signs of returning to the rising stone.
However, to check, XRP must return to the $ 2.00 area, return to the $ 2.60 district, and then close the candle every day and cut more than $ 2.62. Until then, it is still possible, but it remains unidentified.