📉 Market Sentiment & Overview:
The Bybit hack has triggered a bearish shift in the overall crypto market.
XRP is now testing a critical ascending trendline support, which has been in play since early February.
Despite the bearish sentiment, XRP is showing resilience, attempting to recover from its recent dip.
📊 XRP Technical Analysis & Key Levels:
XRP bounced off the $2.50 support level, leading to a bullish candlestick pattern forming.
The ascending triangle pattern remains intact, meaning a bullish breakout is still possible.
If XRP stays above $2.50, it could trigger a rally toward $2.80 and beyond.
🚨 Bearish Warning: A 4-hour candle close below $2.45 could cause a strong sell-off, dragging XRP toward $1.90.
The 200 EMA is acting as resistance, meaning XRP is still in an overall downtrend for now.
📈 Current Price & Market Activity:
Current Price: $2.58 🔄 (Down 3.75% in 24h).
24H Trading Volume: Increased significantly, suggesting strong market activity.
Investor Interest: Despite the decline, participation surged 44%, showing growing trader attention.
💰 $21.50M XRP Outflow – Signs of Accumulation?
On-chain data (Coinglass) reveals a massive outflow of $21.50 million worth of XRP from exchanges.
Large outflows typically indicate whale accumulation or strong investor confidence.
This suggests that smart money might be buying the dip, preparing for a potential reversal.
Key Buy Zone: $2.50 - $2.45, but if sentiment turns bearish, traders may need to exit.
🚀 Will XRP Hold or Break Below?
The $2.50 level is critical – if buyers defend it, XRP could aim for $2.80 - $3.00.
A break below $2.45 could trigger panic selling, leading to a deeper correction.
Next few trading
sessions will decide XRP’s fate! Stay alert! 🔥
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