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XRP Price At A Pivotal Level — Is Another Drop Coming?
The XRP price has reached a critical level, and investors are left wondering if another decline is imminent. As the price consolidates near $2.40, it’s essential to assess the current situation.
After a significant drop, the XRP price found support at around $1.90 and initiated a recovery wave above the $2.05 pivot level. The price managed to recover above the $2.20 resistance zone and even touched the 50-day simple moving average (blue). However, the rally was cut short as it failed to clear the 61.8% Fib retracement level of the downward move from the $3.010 swing high to the $1.910 low.
The current price action has a slightly bearish tone, and it seems that the bulls are facing significant hurdles on the upside, starting with the $2.50 level. Any further increase could be met with resistance near $2.60, followed by a major hurdle at $2.750.
Source: https://coinchapter.com/xrp-price-at-a-pivotal-level-is-another-drop-coming/?utm_source=rss&utm_medium=rss&utm_campaign=xrp-price-at-a-pivotal-level-is-another-drop-coming
