XRP is trading within an ascending channel but recent price action shows weakness below the midline suggesting a potential bearish breakdown
Technical Highlights:
Structure: Price rejected resistance near $2.3254 and momentum is shifting downward
Key Levels:
Pivot 1: $2.1556 – losing this level opens downside risk
Pivot 2: $2.0683 – a clean break below confirms bearish momentum.
Support Target: $1.9300 – measured move projects a drop to this key level
Bearish Scenario:
A breakdown and retest below $2.1556 could accelerate a sell-off toward $1.9300.
A bounce from this zone could spark a retracement, but failure to reclaim support will keep bears in control.
Bulls’ Last Stand:
Price must reclaim and hold above $2.2284 to invalidate the bearish setup and aim back at channel resistance near $2.3254.
Summary:
XRP is at a critical juncture — a bearish breakdown could send price sharply lower. Traders should watch for a decisive move below $2.1556 for confirmation.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you!
Best Regards TrendLinford!
Technical Highlights:
Structure: Price rejected resistance near $2.3254 and momentum is shifting downward
Key Levels:
Pivot 1: $2.1556 – losing this level opens downside risk
Pivot 2: $2.0683 – a clean break below confirms bearish momentum.
Support Target: $1.9300 – measured move projects a drop to this key level
Bearish Scenario:
A breakdown and retest below $2.1556 could accelerate a sell-off toward $1.9300.
A bounce from this zone could spark a retracement, but failure to reclaim support will keep bears in control.
Bulls’ Last Stand:
Price must reclaim and hold above $2.2284 to invalidate the bearish setup and aim back at channel resistance near $2.3254.
Summary:
XRP is at a critical juncture — a bearish breakdown could send price sharply lower. Traders should watch for a decisive move below $2.1556 for confirmation.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you!
Best Regards TrendLinford!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.