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8 hour ago
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XRP Approaches Key Technical Breakout Amidst Short-Term Bearish Trends

XRP's current market situation shows a contrast between short-term pressure and long-term growth potential. Key highlights include:

  • Short-term resistance levels are limiting price increases, but a broader structural setup is developing.
  • A multi-year macro triangle formation indicates a significant long-term move is possible, as observed by analyst EGRAG CRYPTO on the 2-month timeframe.
  • This technical structure signals accumulation and pressure within XRP's price action, suggesting a potential breakout phase.

XRP

Recent market analysis by Umair Crypto highlights ongoing challenges:

  • The double-bottom pattern has not gained traction due to market hesitancy.
  • A price close above $1.96 is needed to shift momentum towards bullish trends.
  • A breakout at $2.00 would reclaim the daily 50 SMA, signaling a return to a bullish structure.
  • Until these resistance levels are surpassed, XRP remains vulnerable to further downside risks.

XRP