Cryptocurrency Market Analysis: XRP Facing Downward Pressure
Volatility Trends In The Cryptocurrency Market
The cryptocurrency market is still under significant volatility pressure. In this context, XRP shows signs of weakness despite having previously surpassed the downward resistance level that hindered recoveries since February. After failing at key resistance levels, analysts warn that XRP may face a deeper pullback in the upcoming sessions.
Current Price Assessment of XRP
At the time of writing, XRP is struggling to maintain support around $2.10, having dropped to a low of $2.03. Analysts, like CasiTrades, warn that the recovery could be a "false breakout", especially if the open contract aggregation increases without a clear price increase above 0.02% — this could signal the possibility of liquidity being wiped out on the downside.
Support Levels And Next Target Thresholds
If XRP cannot maintain the level of $2.25, subsequent support levels such as $2.01, $1.90, and even $1.55 could all become targets. Although this downward trend exerts short-term pressure, it may in fact create the necessary momentum for XRP to break out of its years-long trading range, paving the way for a strong rebound in the near future.
Technical Indicators Support Short-Term Bearish View
The RSI and Stochastic indicators on the daily and 4-hour charts are both in an oversold state, signaling that selling pressure may continue before the market can adjust upwards again. Currently, investors are paying attention to the area of $1.95 – $1.88, where there are signs of support that could help stabilize the market.
Linking XRP Prices With Bitcoin and Ethereum
XRP's situation is largely influenced by the volatility of Bitcoin and Ethereum. When both of these major currencies are in a narrow price range and potentially adjusting downward, altcoins like XRP will also react similarly.
Mid-Term Outlook For XRP In The Context Of Short-Term Volatility
Although immediate risks remain high, analysts remain optimistic about XRP's mid-term outlook. If the market can overcome the current bearish sentiment, it is predicted that XRP could recover to the initial levels of $2.25 – $2.35, and with positive momentum, potentially aim for the $3 mark by the end of July, when the bullish trend becomes more evident.
Have you understood the trends and possible scenarios for XRP? Carefully read these analyses to make appropriate investment decisions. The cryptocurrency market is becoming increasingly complex, and accurate predictions will help you be prepared for unexpected fluctuations.
Source: https://tintucbitcoin.com/xrp-co-the-giam-25-xuong-155/
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