U.S. stocks in the cryptocurrency sector are collectively rising! XRP is stuck at the $2.25 critical line, and bulls and bears are engaged in a 'close combat' performance.
Just finished watching the market, one signal worth noting is that cryptocurrency concept stocks in the U.S. are collectively active before the market opens today! Circle leads with a 2% increase, followed closely by Robinhood and Coinbase, which rose by 1.6% and 1.9%, respectively. This wave of linkage seems to have injected a 'boost' into the crypto circle, indicating that traditional funds are showing renewed interest in crypto.
However, let's focus on what players care about the most: XRP.
The current price is $2.258. Looking closely at the 1-hour chart, this coin is stuck at a 'key battlefield': the resistance above is $2.3530, and strong resistance at $2.3955 looms like two mountains, making it difficult to break through in the short term; the critical support level below is $2.2780, which is the dividing line for bulls and bears. If it goes lower, the support level at $2.2495 will be crucial, and if broken, we have to watch for the 'bottom line' at $2.22 or even $2.188.
The technical indicators are more straightforward: the MACD yellow and white lines have crossed down below the zero axis, and the green bars are still emerging, indicating that the short-term bearish sentiment has not dissipated. However, the right side of the order book is interesting—there's a large sell order at $2.2547, and a large buy order at $2.188, with bulls and bears 'lying in wait' at these two price points, clearly competing.
As an experienced player, I have to say: don't rush to catch the bottom right now! For those holding XRP, a stop-loss can be set below $2.22 to prevent a deeper drop; for those wanting to get in, wait for two signals: either a volume breakout and stabilization above the critical level of $2.2780, or a continuous rise in U.S. cryptocurrency stocks to boost sentiment.
Will XRP continue to break through support and explore the bottom, or will it stabilize at the critical level and rebound? How long can this wave of enthusiasm in U.S. stocks sustain the crypto market? Let's discuss your judgments in the comments section, and let's keep an eye on the market together!
