XRP has fought to maintain the momentum in the last seven days and has repeated failures to recover a higher ground greater than $ 2.8. The weekly performance shows a drop of over 4%and the intraday movement in the last 24 hours has shown $ 2.71 and $ 2.85 $ 2,85.
This price movement is part of a sales pressure that has been built Since XRP has lost its grip over $ 3 On August 28th. Interestingly, a technical perspective suggests that this sales pressure could eventually cause the action of the price of XRP to $ 1 to collapse.
Technical analysis indicates the rupture
Although XRP is currently showing signs of exhaustion just under $ 3 after his event in July and the first half of August, many analysts claim that the Rally is still on the right way resume soon. However, a technical analysis on The TradingView platform has outlined a bearish reliable scenario distinctly extended for XRP based on its price movements on the three -day period of time.
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According to the graphic designer, the structure of the crypt He moved to the sellers After a refusal to $ 3. The short -lived gatherings have not managed to produce higher significant maximums on the 3 -day candlestick, which left the vulnerable trend with faults with lower price areas. At the time of the analysis, XRP already seemed to have has started a significant decline from $ 2.8 and reached in the $ 2.7 area.
As shown in the price graph, as long as the action of XRP prices is limited below $ 3, the sales pressure continues to dominate. The projection shows the extended reduction moves that could send XRP closer to the sign of $ 1, with the imbalance of the rally at the end of 2024 leaving some technical supports in the middle.
The graphs highlight a wider bearish wave that could take place through 2025 if the current support levels fail. In such a situation, the token could not only slide below $ 2, but also risk immersing yourself directly under $ 1 in the price range of $ 0.70 to $ 0.50.
This bearish target aligns with the blocking of imbalance that was left behind during the almost vertical ascent of XRP at the beginning of the cycle. Revisiting this level could serve to restore the balance of the market before any possibility of long -term significant recovery.
The action of XRP prices
At the time of writing writing, XRP is exchanged at $ 2.82, down by 0.5% and 4.4% in the last 24 hours and seven days, respectively. This drop is part of a wider cryptographic market Pullback in the middle of the most recent The data on the index of personal consumption (PCE) expenses, which have created a certain uncertainty about the cutting expectations of US interest rates. However, the volume of negotiation and volatility are still high and XRP has managed to bounce by 4% from its minimum intraday of $ 2.71.
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For now, the perspective is if XRP he can hold his land above $ 2.7 or if this bearish structure will turn into the crash scenario provided for by the analyst.
In the foreground image by Adobe Stock, TradingView.com graphic