Ripple has experienced a bullish rally in recent weeks, but the momentum now seems to fade while buyers confront a significant level of resistance. Technical signals suggest that the market is entering a cooling phase, marked by consolidation and potential recovery in the short term.
XRP analysis
By Shayan
The daily graphic
On the daily delay, the ascending trend of XRP encountered a strong resistance around the $ 2.4 bar, which also coincides with the upper limit of a prolonged descending model almost $ 2.6. This area turns out to be a robust supply region, as evidenced by the incapacity of the market to maintain an increase dynamic.
Despite the anterior upper impulse, the lack of purchase and monitoring dynamics at this level triggered a slight rejection. This suggests that the recent gathering may have exhausted for the moment, because buyers fail to overcome this decisive resistance.
The result is probably a short -term consolidation phase below the region of $ 2.4. This type of corrective behavior is not unusual after a strong advance – it allows the market to digest gains, to reset indicators and potentially attract a new demand before trying another escape.
The 4 -hour table
Zooming on the 4 -hour period, technical weakness becomes more pronounced. XRP was rejected at the resistance of $ 2.4, retracing lower shortly after failing.
A downward divergence has also been formed between the price and the RSI, stressing the weakening of the momentum even if the price has tested new peaks. More critical, Ripple broke down below a low anterior swing, printing a low low, often an early signal for exhausting trends and a potential structure shift.
This confluence of factors points to a high probability of retracement towards the psychological level of $ 2 in the short term. If the request fails to enter this area, deeper corrections could follow. However, if buyers intervene with conviction, this region can serve as a launch for another attempted extension around $ 2.6 and beyond.
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