XRP Breaks Below $3! Bollinger Bands Signal Key Indication, Could It Drop to $2.39?
XRP's daily chart has broken below the middle line of the Bollinger Bands ($3.19), marking the first technical breakdown since July, indicating a weakening upward momentum and a short-term pullback risk of up to 20%.
Core Highlights:
XRP has fallen below the $3 mark, technically losing the middle line of the Bollinger Bands.
The daily Bollinger Bands are starting to narrow, with decreasing volatility possibly indicating an upcoming significant fluctuation.
The weekly support level is at $2.39; if it cannot hold $2.76, a further pullback may occur.
Market Interpretation:
Narrowing Bollinger Bands + losing the middle line = momentum cooling, bullish confidence weakened. Currently, XRP is set to record its second consecutive weekly red candle. Analysts point out that if it breaks below the lower band, it will test the key support area at $2.39.
Strategy Suggestion:
Be cautious in the short term, observe the effectiveness of support at $2.76 and $2.39, and pay attention to whether the Bollinger Bands will expand again and if the price returns above the 20-day moving average.
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