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XRP to Be Reborn? Crucial Test Might Happen in 24 Hours
The price of Ripple’s native cryptocurrency, XRP, has been stuck in a precarious situation as it approaches the $2.05 support level. As we discussed previously, failure to hold this crucial support could lead to a further decline towards $1.85. However, if buyers can step up and defend this area, there is still a possibility for recovery.
The descending channel that XRP has been trading within provides guidance on potential future movements. If the price manages to break above the resistance level around $2.65-$2.70, it could gain enough bullish momentum to propel the cryptocurrency towards higher values. On the other hand, if the support is breached and buyers fail to intervene, there might be a sharp decline.
The current situation suggests that XRP is still in a precarious position juggling resistance and support. It’s crucial for investors to keep an eye on this critical level as it will dictate the future path of the cryptocurrency. If buyers can act decisively at these levels, we could potentially see a recovery fueled by growing bullish momentum.
It remains to be seen how XRP’s price will react in the coming 24 hours.
Source: u.today
