XRP is balanced after its last increase: What does the analysis of the day reveal?

After the spectacular output, the XRP course stabilized under its ATH. Find Elyfe’s analysis that decrypts the XRP technical perspectives.

Situation of XRP course

After benefiting from real expansion, the XRP price reached $ 2.90, which is the highest level since January 2018. The cryptometer experienced the first consolidation, which eventually was divided, which allowed the XRP to achieve a new peak based on a new summit at 3, 40 $. Unfortunately, the overall decline in the market market did not allow cryptocurrency to reach its ATH, which is a little over $ 3.55.

The XRP actually underwent 46 %correction, which increased its course to $ 1.80. Although this decline is worrying, the price is quickly returned above the $ 2 border. Then stabilized on the first swivel medium that is located at $ 2.27 before it jumps again.

Once these lines are written, XRP is negotiated around $ 2.70. Although the cryptocurrency develops below the lunar point of rotation and its level VWAP, which is in line with its mobile diameter of 50 days, it should be noted that the short -term trend seems to be back and evolves above a significant value. When it comes to medium and long -term trends, they always remain up.

On the XRP dynamics side, there is a temporary weakening before the reflection, indicating an encouraging recovery. However, among the oscillators and the XRP course is visible divergence down and points to reduced dynamics despite the increase in price. This type of signal is often an indicator of a lower reversal precursor unless the real interest of the buyer is affected.

The current technical analysis was carried out in cooperation with ElyfeInvestor and popularizer in the cryptocurrency market.

Derivatives of XRP (XRP/USDT) Derivatives

After observing the current decline in open interest and the basic course, there is a trip on the market. However, it seems that this trend has stabilized for two weeks, indicating market consolidation. This phenomenon can be interpreted as a sign that players on the market are waiting for the catalyst before renewing more active positions.

Although stabilization of stabilization, CVD continues to reflect the persistent trend down, which reflects the superiority of sales orders, but with pressure, which gradually tends to disappear. This dynamics suggests a slowdown in the aggressiveness of sellers that can tell a breathless breath of lower movement. Continuation of this stabilization or even conversion of CVD could point out the balance between buyers and sellers, even a change in trend.

Since the last decrease of the XRP, liquidation has remained limited on both sides of the market, without significant movements, or for buyers or sellers. This situation reflects the stable market, contained volatility and caution of risk management. However, this balance remains temporary. The renewal of volatility is probably, especially in the case of a sudden increase in the volume or appearance of the outer catalyst.

The thermal card by disposing of XRP/USDT contracts shows that the cryptocurrency has been reflected in contact with the liquidation zone between $ 1.8 and $ 1.9, which illustrates a remarkable application at this price level.

Now the XRP course is below the liquidation zone between $ 2.8 and $ 2.9. Higher, we observe more significant liquidation zone over $ 3.2, with more significant level to $ 3.44.

Under the current course, the liquidation zone can be recorded at $ 2.3. The lower, fine disposal zone starts at $ 1.74 and covers up to $ 1.41.

Price access to these levels could lead to a massive trigger, thereby increasing the risk of increased volatility of cryptocurrency. These areas therefore represent a key point in interest for investors.

Forecasts for the XRP course

• If the XRP price is maintained above $ 2.27, you can assume a transition of $ 3.15. Another resistance to the monitor in the event of a continuation of the Haussier movement would be the last summit identified at $ 3.40. In addition, the ATH XRP, located at $ 3.55, would be a key goal, an increase of more than 31 %.

• On the other hand, if XRP is unable to stay above $ 2.27, you can return to $ 1.80. In the case of a continuation of lower movement, further support is to consider around $ 1.43, which would be a decrease of approximately 47 %.

Conclusion

XRP shows signs of recovery after significant correction, but some indicators indicate the possible fragility of the Haussier movement. This trend remains generally positive, but the actual return of the buyer’s interest will be decisive to confirm the continuation of recognition. In this context, it will be necessary to carefully monitor the strategic price response to confirm or modify the current forecasts.

Finally, remember that these analyzes are only based on technical criteria and that cryptocurrencies can develop rapidly according to other basic factors.

Are you interested in this study? Find our latest bitcoin analysis.

Elyfe

Elyfe specialist in technical analysis decrypts graphic trends on the markets of cryptocurrencies with strict and constantly evolving approach. Through its detailed analyzes, it brings an enlightened view of prices dynamics, helps investors and enthusiasts better understand and predict market movements.

Renunciation

The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.