- XRP seemed to have a short -term lower perspective after rejection at $ 3.2
- A new $ 2.95 test can be anticipated, but a bullish overth
XRP formed a range between $ 2.95 and $ 3.23, with the mid -range level at $ 3.1. The upgrading of the XRP LEDGER of the AMMCLAWBACK amendment for better regulatory compliance for AMM POOLS was good news for the network.
Now, while the token has had trouble on the price front, buyers should defend the request zone from $ 2.9 to $ 2.95. In fact, in a recent analysis, Ambcrypto noted that the level of $ 3.2 was a serious threat to short -term Bulls.
This was done with a rejection of $ 3.15 on January 30.
Will the training of the December range of XRP repeat themselves?
Source: XRP / USDT on tradingView
In early December, XRP had a sharp increase from $ 1.88 to $ 2.9. This was followed by a consolidation in a range with the stockings at $ 2 and summits at $ 2.62. The low -ends have been tested twice, one of them being a difference below the bottom, before XRP begins upwards.
Therefore, it is possible that we saw another new low test and a certain consolidation around the mid -range level before the next higher movement. A large difference of less than $ 2.95 had already occurred a week ago.
At the time of writing the time of the editorial staff, the trading volume was low and a solid decision cannot be expected during the week or the next two. The restoration of the intermediate level as a support would offer an opportunity to purchase.
Source: Coringlass
The one month’s thermal liquidation card described the levels of $ 3.2 and $ 3.45 in important magnetic zones in the north. The price will probably be attracted to these regions, in particular $ 3.45, where it could record a downward overthrow.
Source: Coringlass
Realistic or not, here is the market capitalization of XRP in terms of BTC
Last week’s liquidation thermal card described $ 3.2 as a short -term bullish target. A new test area of the $ 2.95 request zone would be a purchase signal for XRP traders, targeting $ 3.2.
However, a drop below $ 2.9 would invalidate this upward idea.
Notice of non-responsibility: The information presented does not constitute financial investments, exchanges or other types of advice and is only the opinion of the writer
