CryptoWill XRP Plummet Below $2 This Week?

Will XRP Plummet Below $2 This Week?

-


XRP continues to consolidate with low volatility across its BTC and USDT pairs. Price action is tight, holding above major support but struggling to gain bullish momentum.

By Edris Derakhshi

XRP Price Analysis: The USDT Chart

XRP is holding just above the $2.00 support zone and the 200-day moving average, located around the same price mark.

The $2.00 level has acted as key demand throughout April, with multiple wicks into that zone being bought up quickly. However, bullish follow-through has been weak, and the price remains compressed between $2.00 and the $2.40–$2.60 resistance zone.

Momentum is neutral as the RSI hovers around the 50 mark. Bulls need to reclaim $2.60 to confirm strength and open the way toward the $3.00–$3.10 resistance. If the 200 DMA fails to hold, the next major supports are at $1.40 and $1.

xrp_price_chart_2004251
Source: TradingView

XRP Price Analysis: The BTC Paired Chart

XRP is still in a downtrend against BTC, with a clear sequence of lower highs since the peak in January. The price is now just above the 2,400 SAT level but well below the 2,800 SAT resistance zone.

The 200 DMA near 2,100 remains a key level to watch if the decline continues.

This pair continues to show relative weakness, and reclaiming 2,800 SAT is critical to shift the short-term trend. As long as XRP/BTC fails to break above that structure, upside will likely remain capped.

xrp_price_chart_2004252
Source: TradingView
SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Meet the Trio of Tech Startups Bringing Live Sports to Blind Fans

A solid connection is essential when it comes to reducing latency, which is usually just an annoyance but...

A Blow to the Dollar: Russia Reaches Historic Milestone by Paying for Over Half of Its Imports in Rubles

According to the Central Bank of Russia, 53.5% of all imports to the country were paid for with...

US Dollar Index Plunges to 3-Year Low as Gold Hits ATH, BTC Tops $87K 

The US Dollar Index (DXY) has fallen to its lowest level for three years as the world’s reserve...

Advertisement

White House replaces covid.gov website with ‘lab leak’ theory

The government-run website covid.gov used to host information about COVID-19 vaccines, testing, and treatment. Now, under President Trump’s...

Then vs. Now: Top NFT Collections and How Much Their Prices Have Crashed Since 2021

In 2021, alongside the sudden surge of interest in play-to-earn games through Axie Infinity, another Web3 industry also...

Must read

You might also likeRELATED
Recommended to you