XRP Faces $2.6000 Barrier, Will Momentum Trigger a Breakout?

News, Trending

XRP Faces $2.6000 Barrier, Will Momentum Trigger a Breakout?

  • XRP consolidates within $2.0000–$2.6000, facing resistance at $2.6000; breakout may start bullish momentum.
  • Support levels at $1.6400, $1.3700, and $1.2200 signal key safety zones during potential downward price movements.
  • Momentum indicators suggest limited strength, with oscillators hinting at oversold conditions and a possible price rebound.

The price movements of XRP show a period of consolidation with important levels of support and resistance. With a symmetrical triangle formation in the 3-day timeframe, the price indicates less volatility and a possible breakout. Now down 5.92% to $2.0531, XRP is having trouble keeping up its upward trend. Key levels that define the upper and bottom limits of this consolidation zone are $2.6000 and $2.0000.

Source: Egrag Crypto

Resistance Levels Define Breakout Potential

The primary resistance levels include $2.6000, $2.9100, $3.5500, and $3.7750. Notably, breaking $2.6000 may trigger upward momentum. Additionally, intermediate levels like $2.65 and $2.75 present short-term barriers for buyers. Above these, $2.9100 could serve as a potential target for bullish movement. Moreover, overcoming these hurdles could lead to fireworks, propelling the price toward higher levels like $3.5500 or $3.7750.

Conversely, support levels are marked at $1.6400, $1.3700, and $1.2200. These areas offer a safety net for potential declines. A confirmed break below $2.0000 could shift the price toward these lower targets, threatening further bearish action.

Indicators Show Limited Momentum

The 4-hour chart highlights a rectangular price range between $2.0000 and $2.8000, reinforcing limited directional movement. Besides, the stochastic RSI oscillates at oversold levels, indicating slowing bearish momentum. With K-line at 7.9930 and D-line at 6.1816, conditions remain ripe for potential rebounds.

Source: BingX

The Awesome Oscillator shows alternating red and green bars, reflecting weak trend strength and minimal sustained momentum. Its latest reading at -0.09492 suggests continued negative momentum within the range. Candle patterns exhibit alternating bullish and bearish moves, consistent with sideways trading behavior. Moreover, volume levels remain stable, indicating a lack of decisive breakout attempts.

The post XRP Faces $2.6000 Barrier, Will Momentum Trigger a Breakout? appeared first on Crypto News Land.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed

Leave a Reply