The recently -lang XRP price action is sending a clear warning. After climbing to the $ 2.30 region, the Ripple (XRP) failed to handle its gains and now showed signs of weakness. The price just walks above the $ 2.00 mark, a critical psychological level, and the momentum appears to be rapidly fading.
Looks at the 1-day chart posted by Ali ChartsXRP is trading within a Downward sloping channel For months. Each attempt to higher the higher was addressed by the decline. The latest bounce is stuck around $ 2.26, which is aligned with a major Fibonacci level, and the price has since been restored. This place proves to be a strong objection, and merchants are beginning to show caution.
Ali, the well -known analyst from the Ali charts, pointed out that the XRP has been stuck between $ 2.00 and $ 2.26. According to him, a decisive close outside of this range can be catalyst for the next major move. So far, it looks like the XRP is leaning on the downside.
Chart patterns confirm bearish bias
In the 3-day chart, things look more about. A bearish engulfing candle is only formed right below the $ 2.26 zone immunity. This type of pattern usually indicates a recurrence, especially if it appears after a short rally. That's exactly what is happening now. The latest candle not only pulls back, it is fully overwhelmed by the previous one, closing around $ 2.10 and wiping all the bullish momentum.
What makes the more stressful this happened immediately after a failed breakout attempt. The previous candle has a long upper wick, which shows that consumers have tried to push higher but extremely powered by selling pressure before finishing. This type of decline is often followed by additional downside.
Ali also taught Out that the TD consecutive indicator exploded a seller's signal in 3-day time. It adds another layer of bearish confirmation and supports the idea that XRP may be due to a deeper secret.
How low is the price of XRP?
If the XRP defeated the support of $ 2.00, it could have been in trouble. This level is held several times before, but each test weakens its strength. A breakdown from this can drag the price of ripple to $ 1.95, where minor support can kick. If that level also failed, the next zones to watch were $ 1.80 and $ 1.61, both aligned with Fibonacci's target extensions from the wider trend structure.
Also read: The harsh fact about KASPA's price action – does the market not notice Crescendo?
At the same time, merchants want to watch over $ 2.26 resistance. If the bulls managed to push the price back above it and handle it, the bearish point of view would need to be re -considered. But unless it happens soon, the general run remains, and sellers appear to be in control today.
In short, the XRP price shines many warning signs. Both the price structure and indicators highlighting the ali from the ali charts suggest a bearish phase may already be carried out. If the $ 2.00 level holds or breaks it may be the discretion of the factor in how the low ripple will follow.
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