The post What’s Next for XRP After The Market-Wide Crash? Ripple Price Analysis appeared on BitcoinEthereumNews.com.

Ripple’s market activity reflects a period of equilibrium, with buyers and sellers locked in a standoff. The lack of volatility underscores indecision, emphasizing the need for a breakout to define the cryptocurrency’s next direction. XRP Analysis By Shayan The Daily Chart XRP’s price action has been confined within a wedge pattern since facing rejection at the $3 resistance level. It has resulted in subdued market activity and low volatility, with the asset fluctuating within the $2-$3 range. The current price behavior reflects equilibrium in the market, as neither buyers nor sellers have managed to gain a decisive advantage. A breakout from this wedge pattern and price range is essential for XRP to initiate a clear directional move. If buyers succeed in pushing the asset above the $3 resistance, Ripple could see a robust rally toward higher price levels, possibly even surpassing its previous all-time high. Conversely, if sellers manage to drag the price below the $2 support level, the bearish momentum will likely lead to a drop toward the 100-day moving average, reinforcing the importance of the $2 threshold as a critical defense line for buyers. The 4-Hour Chart On the 4-hour timeframe, RP’s price shows notable support at the 0.5 ($2) and 0.618 ($1.9) Fibonacci retracement levels, which have acted as strong defense zones since December 2024. These levels reflect buyers’ interest, as Ripple recently rebounded from this range, triggering a wave of buying activity that sparked a short-term bullish reversal. Despite the recovery, XRP remains constrained within the $2-$3 price range, highlighting the market’s current indecisive state. The lack of a clear breakout has left traders uncertain about the sustainability of the bullish momentum. For now, continued consolidation within this range appears to be the most likely scenario. However, a valid breakout above $3 would signal a renewed…

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Filed under: News - @ January 8, 2025 5:22 pm