The post Is XRP Truly in the Clear After 10% Daily Rebound? appeared on BitcoinEthereumNews.com.

Ripple has faced significant selling pressure amid escalating trade tensions between the U.S., China, Mexico, and Canada, leading to a breakdown below the critical lower boundary of its ascending wedge pattern. This development has introduced heightened volatility, creating uncertainty among market participants as they await a clearer directional move. XRP Analysis By Shayan The Daily Chart XRP has come under significant selling pressure as global trade uncertainties, particularly tensions between the U.S., China, Mexico, and Canada, weigh on market sentiment. This bearish momentum has driven the asset below the lower boundary of its critical ascending wedge pattern, triggering a wave of liquidations and pushing the price toward the pivotal $1.8 level. However, strong buying interest quickly emerged, leading to a notable rebound. Currently, XRP is testing the previously broken wedge boundary, potentially confirming it as resistance. If this retest holds, the market could enter a prolonged consolidation phase or even experience further downside movement. While increased volatility remains likely in the mid-term, traders should remain cautious as price fluctuations intensify. The 4-Hour Chart On the lower timeframes, the downward pressure on XRP has been evident, with the price dipping into a key liquidity pocket below previous swing lows. This movement appears to have triggered buy orders, resulting in a rapid recovery. The $1.9 level now serves as a crucial support area, with buyers stepping in to defend it. However, XRP encountered resistance near the $2.5 mark, leading to a temporary rejection. Given this structure, price action is expected to remain volatile, with the asset potentially ranging between $1.9 and $2.5 until a decisive breakout occurs. If buyers can regain control and surpass this resistance zone, further upside could be in play. Conversely, failure to hold the support level may lead to another downward move.   SPECIAL OFFER (Sponsored) Binance Free…

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Filed under: News - @ February 4, 2025 2:24 pm