$XRP Weekly Timeframe Update
XRP is currently showing a rejection from the resistance trendline and is now hovering near a crucial support zone, ranging between $1.57 and $1.90. This level is significant as it marks the previous higher high. Additionally, the 50 EMA is providing extra support, from which XRP has already shown signs of a rebound.
Bullish Scenario:
If XRP continues to rebound from this zone, we could potentially see a new all-time high, with the price forming a double top pattern.
Bearish Scenario:
If XRP breaks down and closes below this key support, prepare for downside pressure.
That’s it from my end. Trade safely, and always do your own research and analysis before investing.
Regards,
Dexter
