Analysts Outline Potential XRP Price Movement from $2.70 to $4
XRP is currently trading at $2.79, down 2% in the last 24 hours and 5% over the past week. A drop below the $3 psychological level has raised concerns among investors, although a 72.39% increase in 24-hour trading volume suggests possible accumulation.
Analysis by Ali Martinez
- XRP must defend the $2.70 support level to avoid a drop toward $2.48.
- A breakout above $2.90 could lead to targets of $3.14 and $3.70.
- Pullbacks may occur at $3.05 and $3.26 before a potential breakout.
Liquidity Insights
Analyst Steph Is Crypto highlighted liquidity concentrations potentially reaching $4, indicating a possible short squeeze scenario where traders betting against XRP may need to cover positions as prices rise.
Current Momentum Indicators
- XRP is near the lower Bollinger Band around $2.72, indicating oversold conditions.
- RSI at 41.79 suggests bearish momentum; MACD shows market indecision.
- A break above $2.90 could support a rally towards $3.70 and possibly $4.
- CMF at -0.18 indicates capital outflows; recovery above zero would signal returning demand.
XRP's ability to hold the $2.70 level is crucial for preventing further losses.
Bitcoin Hyper Presale
In related news, Bitcoin Hyper (HYPER) has raised $13.2 million in its presale. The project aims to address Bitcoin's limitations with a fast Layer 2 solution that enhances transaction efficiency while offering staking rewards up to 82%.
Presale Details
- Ticker: HYPER
- Current presale price: $0.012835
- Amount raised so far: $13.2 million