📉 XRP Faces Key Support Levels Amid Market Downturn 🚨
XRP has slipped below the $2.55 support zone, with technical indicators suggesting further downside pressure. The next major support level is at $1.96, aligning with the lower boundary of the descending triangle pattern.
According to Coinglass data, XRP futures saw $43.62 million in liquidations over the past 24 hours—$40.54 million from long positions and $3.08 million from shorts. This wave of liquidations reflects increasing volatility, as buyers struggle to regain control.
🔎 Key Technical Insights:
🔹 Bearish Momentum Strengthens – XRP recently faced rejection at both the falling triangle resistance and the 50-day SMA, reinforcing the downward trajectory.
🔹 Critical Levels to Watch – If bulls fail to hold support at $2.20 and the 100-day EMA, the price could extend losses toward $1.96. A breakdown below this point may trigger an even sharper decline toward $1.35.
🔹 Indicators Reflect Weakness – The RSI and Stochastic Oscillator on the weekly chart are trending downward, signaling a bearish outlook. Additionally, the MACD line is challenging its moving average, while histograms have shifted below the neutral zone, indicating growing selling pressure.
For a bullish reversal, XRP must break above the descending triangle resistance and reclaim key moving averages. Until then, traders should remain cautious and monitor price action closely. 🚀
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