Peter Smith
XRP (Ripple) native token XRP just took another beating, dropping 4% in the last 24 hours. But here's the twist - what looks like doom and gloom might actually be setting up for something interesting. Trading at $3.1947 right now, XRP is sitting at a crossroads where the next move could make or break short-term sentiment.
XRP's False Breakout Could Be the Lifeline Bulls Need
The hourly chart tells a pretty compelling story. XRP seemed to break below the crucial $3.1618 support, but it was just a head fake. These false breakouts are often the market's way of shaking out weak hands before reversing course.
If the daily candle manages to close well above that $3.1618 level, we could see XRP bounce back to the $3.20 zone. It's not a moonshot, but it's something for the bulls to work with.
The bigger picture isn't as rosy though. XRP tried to reclaim $3.3338 recently but failed miserably. Without any clear reversal signals showing up, this correction is likely far from over. The bears are still calling the shots on the larger timeframes.
XRP (Ripple) Price Prediction: Sideways Grind Ahead?
Looking at the medium-term setup, XRP is stuck in no man's land. It's too far from major support and resistance levels for either side to really take control. The telling sign? Volume has dried up completely.
When volume disappears like this, it usually means one thing - we're heading into a boring sideways phase. Analysts are eyeing a $3.00 to $3.20 trading range for the next week or so.
Not exactly the explosive action XRP holders were hoping for, but sometimes the market needs to catch its breath before making the next big move. The question is: will it break higher or lower when it finally decides to move?
Peter Smith
