High Volatility: Can XRP Hold Above $2?

XRP, currently the 4th largest cryptocurrency, is trading at $2.36 with a market capitalization of $136 billion. However, heightened volatility in the crypto market has triggered an 11% drop in 24 hours.

Despite this, XRP’s 7-day returns remain positive at 6.14%, indicating a crucial turning point as the price tests a key support level. The big question remains: Will bearish pressure push XRP below $2? Let’s dive in.

XRP Technical Analysis

On Sunday, XRP saw a massive 35% bullish engulfing candle on the daily chart, but bullish momentum faltered at $3, leading to a sharp correction.

📉 Monday’s price action:

XRP plunged 18.83%, forming a bearish piercing candle.

The 24-hour low reached $2.21, marking a 1.39% intraday decline.

🔍 Key Technical Indicators:

Support at $2.22 aligns with the 38.20% Fibonacci retracement level, signaling strong buying pressure.

The 100-day EMA provides additional support, despite bearish pressure from the 50-day and 20-day EMA crossover.

If buying momentum builds, XRP could retest $2.63 (the 23.60% Fibonacci level).

📊 Volatility & Breakout Potential:

The symmetrical triangle pattern has been broken, increasing market volatility.

MACD & signal lines remain positive, hinting at a possible recovery.

The 100- and 200-day EMAs align bullishly, suggesting potential consolidation before another upward move.

Can XRP Break Above $3 Again?

📈 Whale Activity:

Crypto whales are actively accumulating XRP despite the volatility. Analyst Ali Martinez reports that nearly 1 billion XRP tokens were acquired in just 24 hours.

📊 Key Resistance Levels for a Bullish Rebound:

A sustained bullish trend above $3.00 is crucial for recovery.

Major resistance lies at $3.30, according to Fibonacci projections.

If momentum builds, XRP could push towards the $3.72 resistance trend line.

📉 Support Levels to Watch:

$1.89 (50% Fibonacci level) serves as critical support.

The 200-day EMA provides additional long-term stability.

Will XRP rebound above $3, or is a deeper correction coming? Share your thoughts!

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