XRP buyers are holding strong at $2, but for how long?
Key Support levels: $2, $1.6
Key Resistance levels: $3, $3.4
1. Buyers Make a Stand
Despite the market volatility, XRP has managed to remain above $2 which was well defended to date. This support level was tested five times since December 2024 and buyers always came back there. However, sellers are increasing the pressure.
2. Price is at a Key Support
As long as XRP manages to hold above $2, its bullish uptrend remains intact. However, with each attempt by sellers to break this key level the chances of them succeeding increases. This is why buyers have to push the price higher and move it away from this level as soon as possible to maintain control.
3. Bearish Momentum Intensifies
Even if bulls did a good job so far, the market momentum is against them. This can be clearly seen on the weekly MACD which is accelerating downwards after its recent bearish cross. If nothing changes, the expectation is that the current support at $2 may fall and see the price go to $1.6 next.
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