XRP Price Tests Critical Support Level at $2.1 After 4.5% Decline
XRP Price Analysis
The XRP price has experienced a decline of nearly 4.5% over the past week, approaching a crucial support level just above $2.09. Key details include:
- The current support level at $2.1 is critical; a breakdown could lead to significant downward pressure.
- This level coincides with the 200-day moving average and historical value area lows, making it essential for both bullish and bearish trends.
- Multiple tests of this support heighten the risk of a breakdown, potentially triggering a liquidity sweep if breached.
- However, continued defense of this support by bulls may result in a rebound toward recent local highs around $2.4.
- Investors are advised to wait for confirmation signals before taking positions, either through a break below support or a notable upward movement.
