XRP Price Could Surge as Liquidity Nears Key $3.2 Level
Crypto analyst Steph identified a high liquidity level that might trigger a surge in the XRP price. The altcoin aims to recover the $3 level, potentially leading to new highs.
Key Points:
- Steph noted expanding liquidity around $3.2 for XRP, with many buy and sell orders at this level, possibly pushing prices higher.
- The current market downturn makes an immediate rally less likely. XRP has struggled since a $19 billion liquidation event on October 10.
- CasiTrades predicted a potential drop to $1.4 before a bullish reversal could propel XRP to $6.50 or $10. A break above $2.82 is crucial to negate this downturn prediction.
- Steph forecasts a double bottom formation, potentially reversing above $3 and reaching $4.50, highlighting chart compression.
Market Insights:
- Egrag Crypto observes XRP making higher highs along with RSI, indicating strong bullish momentum without bearish divergence.
- A close between $2.65 and $2.70 is essential for maintaining upward momentum.
- XRP is trading around $2.5, down over 3% in the past 24 hours.
