Warnings of XRP dropping below $2 as volatility rises.. but long-term accumulators show confidence
Key points:
1. Current price levels:
- XRP is currently trading at $2.09, above the nearby support level at $2.08, but increasing volatility raises concerns of a drop below $2.00.
2. Volatility and demand signals:
- There is a significant increase in active XRP addresses, indicating potential price movements (up or down).
- The Liveliness indicator shows that long-term XRP holders (LTH) continue to accumulate, reflecting their confidence in the long-term potential of the coin and providing support against sharp volatility.
3. Possible scenarios:
- Drop: If the price falls below $2.08, it may drop to $2.00, and if this psychological level is broken, panic selling may intensify.
- Rise: If the price bounces from $2.08, it may target $2.13, and if this level turns into support, it could rise to $2.23.
4. Market indicators:
- Open interest in XRP futures has decreased by 18% in 5 days, indicating declining trader confidence.
- The head and shoulders pattern on the chart signals further declines, with bearish targets at $2.00.
5. Expert forecasts:
- Some analysts believe that XRP may see an upward move if it surpasses $2.13, while others warn of testing $1.80 if selling pressures persist.
Summary:
Amid sharp volatility and regulatory uncertainty, $2.00 remains a critical level for XRP. While long-term holders show confidence, breaking support could lead to further declines. Traders are advised to monitor $2.08 and **$2.13** as key levels for the upcoming trend.
