The XRP continues to trade in a sideways pattern with no major changes in its price trend. In the larger time of time, the price is held above the important support level of $ 2, but the momentum remains weak. The market appears to be in a phase of handling, with limited direction in recent days.
Experts are watching XRP's Price pattern and believe that it still goes through a correction. At first, it looks like a triangular shape, but now it seems to form a more common pullback pattern called an ABC correction, which may be more time to finish.
Important level of support and resistance
In the shorter hours of time, there is some speculation that a low may have been formed on April 7, but there is still not enough evidence to confirm it. The recent move is unclear and can only be part of a temporary correction within a larger dowrend.
The support between $ 1.74 and $ 2.30 was watched. As long as the price stays above $ 1.74, the potential for a bullish reversal remains. However, merchants are looking for a strong move above $ 2.25 to confirm a new upward trend. It will signal the start of a C-wave rally, perhaps leading to higher.
Until then, the market remains unsure. XRP briefly broke down below a previous support level but began to recover. While it is possible that a bottom is in, there is still a chance that the price may fall again before turning away, with $ 2.30 seen as the next support if that happens.
The long -term forecast still includes a possible rally, with targets between $ 5.00 and $ 6.60, but they will only focus once a clear bottom is confirmed and the market shows a strong momentum.
