The recent evolution of XRP to the resistance of $ 2.2 finally seemed to be piercing. What traders obtained in place, however, was another firm rejection – the fourth in four weeks.
It is not a secret for anyone that XRP is one of the most popular cryptocurrencies on the market, and everything that should be known on its price is currently happening on the weekly graphic.
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Recently, XRP again touched $ 2.2 before retreating, according to a familiar model that the market has seen a few times now, each test having been encountered by a sale pressure, keeping the price of the Altcoin trapped in a tightening range.
This week in particular, the configuration seemed good, but when there is a sudden peak of resistance without follow -up, it generally makes people more cautious than hope. And rightly, it seems.
At this point, there are two scenarios that stand out. If XRP bursts more than $ 2.2 – and remains strong at the end this week – it could reach $ 2.4, where the next real challenge is waiting.
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Another rejection, however, could bring XRP back to the support area from $ 1.9 to $ 1.95, where prices have dropped in recent weeks. It is a well -known place, but each retest pushes support a little further, which makes the beach more difficult to predict over time.
It is clear that the momentum is at the crossroads. Quadruple failure at $ 2.2 shows that sellers are still growing it, but the stable base greater than $ 1.9 shows that buyers are not ready to give up either. The rope shooting continues – and the next big movement could set the tone in the summer of XRP.
