XRP Key Level Holds! The Battle of Bulls and Bears Depends on These Two Days
XRP's $2.61 support level has finally held up! Now we are watching the daily closing price— as long as it can steadily stay at this position, the short-term bullish expectations will continue, and the next target is the $2.68 resistance level.
However, there are hidden concerns in the market: retail demand has not really picked up, and the open interest in futures has dropped by 40% from October 1st to now, leaving only $4.46 billion. More troubling is the technical aspect; although the MACD has given a buy signal, the RSI is moving down, indicating that bullish momentum has weakened significantly.
Risks and opportunities are laid out here: holding above $2.61 is crucial for the hope of reaching $2.68, but if this line is breached, it could trigger a sell-off, directly heading to $2.18. Fortunately, the Federal Reserve is likely to cut interest rates on Wednesday; historically, during periods of easing, cryptocurrencies tend to rise, and this wave of liquidity might just provide a bottom for XRP.
The dividing line between bulls and bears is right in front of us, so keep an eye on the support level and news!
