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Amidst Current market instability and volatilitythe XRP price maintained support levels, even as much Altcoins crashed Last week. Has a well-known crypto expert in the spotlight A critical resistance level at $ 2.3, which says that the next step of XRP will largely depend on whether it can successfully break through this barrier.
XRP – Price for $ 2.3: a brand or breaking point
According to Amcrypto, an analyst on X (formerly Twitter), XRP had maintained strong support at $ 2. Compared to other altcoins who experienced Serious price accidents Earlier this year, XRP was one of the few who did not fall under the capitulation price of February.
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The price level of $ 2 was one Key Support Zone That acted as a barrier for XRP, while buyers came in to prevent further price decrease. Remarkable, XRP was consolidated Just above this point for the past months, with a huge resilience in the midst of broader market volatility driven by news about the tariff plans of the United States (US). However, recently XRP has fallen under $ 2 And is now traded at $ 1.68.
Amrypto has shared a price diagram and emphasizes that XRP recently from one Drifting triangle pattern – A formation that is usually associated with strong price movements. In order to have this outbreak real momentum, the Altcoin has to push past the critical level of resistance to $ 2.3.
If XRP manages to erase this resistance level, the analyst predicts that his price can experience a quick push to the region of $ 3.00 – $ 3.20, which marks new highlights. Looking at the price diagram of the analyst, the token historically experienced two strong outbreaks of comparable falling triangles. The most recent triangle saw XRP break above $ 2.3 resistance zone with strong bullish candles.
Amrypto has warned that without a decisive outbreak above the resistance of $ 2.3, the price action of XRP will probably be limited in a broader consolidation range. This does not predict well for a short -term momentum, because the further upward movement for the cryptocurrency would limit until a stronger bullish confirmation occurs.
Analyst predicts price crash up to $ 0.6
The XRP price seems to reflect the wider Market’s Bearish TrendDiving by around 20% in the last 24 hours, according to Coinmarketcap. The cryptocurrency has also fallen by 30% in the past month, with the emphasis on persistent down And decreasing investor confidence.
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In a recent after On X pointed to crypto analyst Jesse Colombo XRP’s recent breakdown Under the most important support zones, warning that the cryptocurrency is probably on its way to an even deeper price crash up to $ 0.6. The analyst emphasized the formation of a Head and shoulder pattern On the price diagram there is a classic bearish signal that often precedes a considerable downward movement.
With the price of XRP currently traded at $ 1.68, a decrease of up to $ 0.6 would be a significant decrease of 64%. In particular, Amrypto has identified new support levels between $ 2 and $ 2.2, indicating that a rebound to this range could act as a critical barrier against further down for the Altcoin.
Featured image of Adobe Stock, Chart van TradingView.com
