The post Here’s Why XRP Is Stronger Than You Think: Price Details appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. In spite of the recent market volatility, XRP continues to exhibit underlying resilience. The asset is still in a favorable position in comparison to its pre-bull run state, even though it has lost some of its upward momentum. Together, we will examine the current state of XRP and speculate on its future. The breakout above the descending price channel on the price chart has been difficult for XRP to sustain.  The lack of momentum following the initial breakout caused a pullback, and XRP is currently trading around the $2.14 mark. The 50 EMA, a pivotal dynamic level for the asset’s medium-term trend is closely aligned with this, making it a critical area of support. The consolidation of XRP within this range at the moment suggests that the market is insecure. Although there has not been a notable sell-off of the asset below its main support levels, bearish pressure may not be as strong as it first appears. XRP/USDT Chart by TradingView The 100 EMA at $1.156 is a crucial level to keep an eye on because it may be the target of future declines. On the other hand, a rebound from the $2.10-$2.14 range might hint at a return to the crucial resistance level of $2.50. XRP has not experienced significant liquidations in comparison to certain other…

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Filed under: News - @ December 20, 2024 1:21 pm