When can $XRP stabilize at the 3.0 threshold?
The forces of bulls and bears are temporarily balanced, making it difficult to determine the price direction. In the MACD indicator, the fast and slow lines are closely aligned with the zero axis, and the green energy bars are almost nonexistent, indicating a lack of breakthrough momentum in the market. Without volume support, both upward and downward price breakthroughs are challenging.
On the order book, the sell order at 3.010 has 150,000 USD, which creates significant pressure; the buy order at 2.995 offers weak support, with bears controlling the situation. The upward price breakthrough faces major obstacles, while a downward move may lead to a significant drop due to insufficient support.
There are no major news today to change XRP's supply-demand or market sentiment, making technical analysis highly valuable.
Personally, I believe that today XRP will likely continue to oscillate, but there is a risk of trend reversal. In the morning, there may be a false rally to lure in buyers before a drop below 2.99. If it breaks down with volume below 2.992, it could head straight for the 2.96 gap, significantly increasing the likelihood of a crash.
The only condition for a price reversal upward is a strong breakout with volume exceeding 50% through the densely packed sell orders at 3.020; however, the main cost is above 3.0, and this scenario has a probability of less than 20%.
If there is a surge in volume that pushes above 3.0, one can directly chase the long position.
In the future, without significant news stimulation, XRP is likely to oscillate in the short term, waiting for volume to choose a direction. Positive news could break through resistance or lead to an increase, while negative news could break support or lead to a decrease.
In the crypto world, choice is greater than effort; following the wrong person and losing all your capital is not uncommon. If you want to seize the next big opportunity, come find Li Ge, who will help you recover and turn the tide!