🌞 XRP is currently experiencing bearish momentum, with its price at $2.21, reflecting a 3.27% decrease from the previous close.
A key technical indicator, known as a "death cross," has formed on XRP's hourly chart. This occurs when the 50-hour moving average crosses below the 200-hour moving average, often signaling the potential for further price declines.
Analysts suggest that if XRP fails to maintain support at $2.20, it could decline further to around $1.91. Contributing factors include a significant drop in active addresses, down nearly 50% from December peaks indicating reduced network activity and investor interest.
However, if XRP manages to break above the $2.60 resistance level, it could test higher targets at $2.82, $3.15, and potentially $3.40. Such an upward movement would require increased buying pressure and improved network engagement. In summary, XRP's near-term trajectory hinges on its ability to hold current support levels and regain bullish momentum.
🌞 Cryptocurrency investments carry risks. Therefore, this is not financial advice (No BSH recommendation). Hence please do your own research (DYOR) before making investment decisions.