The post XRP Battles Critical $2.20 Support Level — Will It Target $2.70? appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. XRP has been trading in a decline over the past few days alongside the broader cryptocurrency market. However, despite this lull, the XRP price has managed to maintain its critical support levels and is currently positioning itself for a potential recovery.  Related Reading Interestingly, technical analysis highlights the $2.20 mark as a key level to watch for XRP going forward. This was noted in an analysis by popular crypto analyst Ali Martinez, who emphasized that XRP’s next major move could hinge on its outcome on this threshold. Key Levels To Watch: $2.20 Support And $2.70 Resistance The cryptocurrency market has faced significant selling pressure since December 17 led by Bitcoin’s break below support levels, leading to notable price corrections across various cryptocurrencies. XRP, in particular, saw its price fall from $2.708 on December 17 to bottom at $1.98 on December 20. This represented a 27% in three days. After it reached $1.98, the XRP price rebounded and regained the $2 price level. As it stands, XRP is now trading around $2.2, although it is still down by 7% in the weekly timeframe.  XRP’s movement around the $2.2 price level has captured the attention of crypto analyst Ali Martinez, who suggested two ways the cryptocurrency can go from here. According to Ali Martinez, XRP’s ability to hold above the $2.20 support is crucial for its short-term bullish outlook.  XRP is currently trading at $2.27. Chart: TradingView If this level remains intact, the token might enter a consolidation phase, but another attempt at the $2.70 resistance remains in play. From here, a strong bullish momentum above $2.7 could as well send the cryptocurrency above $3 for the first time in years. On the other hand, a break below $2.20 could trigger another quick XRP price…

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Filed under: News - @ December 22, 2024 6:04 pm