XRP Price Analysis: New Developments in the Cryptocurrency Market
XRP Price Suddenly Drops Sharply
XRP's price has dropped suddenly, currently trading around $2.15. This decline occurred right after the U.S. Securities and Exchange Commission (SEC) postponed its decision on Franklin Templeton's XRP ETF filing. The new review deadline has been pushed to November 2025, adding further uncertainty and volatility to the cryptocurrency market. The market is in turmoil as traders await the SEC's next move. This event significantly impacts investor sentiment, making XRP's trend more uncertain than ever. Technical analysis shows that selling pressure remains high, while key support levels are beginning to be tested.
Current XRP Price Trend Analysis
XRP's Daily Price Trend
The daily price chart shows weak momentum for XRP, with both buying and selling sides lacking stability. Prices fluctuate within a narrow range, maintaining between $2.10 – $2.35. Without a breakout from this zone, the market predicts XRP will continue to move sideways in the short term. Traders need to closely monitor support levels around $2.10 – $2.05, as this area is crucial to limit larger risks. The next support level lies between $1.95 – $1.91, and the $1.80 level is also expected to be the next bounce point if the market continues to decline.
Key Resistance Levels to Watch
The market is expected to encounter resistance around $2.32 – $2.36. A clear breakout past this zone could pave the way for an upward move towards $2.44 and $2.60. However, to maintain a long-term upward trend, XRP needs to hold these supports and show stronger breakout signals.
The Future of XRP After the Current Market
Short-term and Long-term Outlook
Despite a strong price correction, since April, XRP has remained in an upward trend, with new peaks just starting to form. There may be a potential for a fifth recovery wave, helping XRP surpass the $5 level in the long term. To achieve this, XRP needs to maintain key support areas while breaking through recent highs.
Expected Strategies
In the short term, if XRP cannot break above $2.33 and form a clear bullish pattern, the price is expected to continue fluctuating within the current range. Investors need to closely monitor positive growth signals and be ready to respond to unpredictable market fluctuations. Future developments will determine XRP's recovery potential.
Conclusion: The Cryptocurrency Market and the Future of PLL
The SEC's decision delay has caused a strong storm for the cryptocurrency market, especially for XRP. Although there is still hope for a long-term upward trend, currently, XRP is struggling to maintain momentum. Investors need to closely monitor key support levels and clear breakout signals to make informed decisions. The market may continue to experience sideways phases in the short term, requiring patience and flexible strategies from FX traders.
Source: https://tintucbitcoin.com/xrp-giam-9-sau-quyet-dinh-etf-sec/
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