XRP Consolidation Reaches Critical Point, Analyst Warns of Upcoming Move
Independent technician CasiTrades warns that the XRP market is at a critical juncture. Key points include:
- XRP’s multi-month consolidation has reached its peak.
- Two potential outcomes: an explosive breakout or a final drop to support levels.
- CasiTrades emphasizes the significance of the $2.25 price level, which XRP has struggled to surpass.
- Failed attempts to break above $2.25 could lead to price movements towards $2.01, $1.90, or $1.55.
- The Relative-Strength Index indicates a shallow upward trend amidst sideways price movement.
- Current sentiment and timing align with potential market shifts, particularly mid-week.
- XRP was trading at $2.16, approximately 3% below the critical resistance level.
- The analyst believes the consolidation phase is nearing its end, urging investors to be alert for upcoming developments.
