Key Takeaways:
-
The price of XRP depends on the $ 2.75 support, endangered a collapse towards $ 2.07.
-
The rising NUPL signals increased income extraction, indicating the local top of the local top.
-
Some analysts insist on Macro’s MacRO’s Macro’s Bullish still with the target prices above $ 5.
XRP (XRP) dropped on Monday, dropping 5% in the last 24 hours to trade at $ 2.80. The inability to handle above $ 3 now puts altcoin uprising, at least the near term.
Classic XRP pattern targets $ 2.07
In the daily candle chart, the XRP plays a classic decreasing triangle formation, a bearish continuation pattern marked with a down-sloping trendline and a flat, horizontal support line.
Related: Ripple compared to the SEC: How the lawsuit strengthened the XRP narrative
A daily candle near the bottom of the triangle support trendline can trigger a fresh sale, with a technical target near $ 2.07, which is calculated by increasing the height of the triangle to the potential breakout point around $ 2.75.
Such a move represents a 26% fall from the current price.
The XRP is currently trading below the 50-day simple moving average (SMA, the yellow wave) and 100-day SMA (the red wave), which strengthens the bias beys.
The 200-day SMA at $ 2.52 can provide relief for the bulls, which potentially avoid a deeper correction at $ 2.
Kamag -child index of strength (RSI) drops from 50 to 39 in the last 24 hours, indicating an increase in descending momentum.
The net that did not realize that income/loss of XRP (NUPL) also flashed warning signs. The scale is currently within a 0.5-0.6 zone, a history level linked to the local tops.
With more than just 94% of the supply in income At current prices, there is a possibility of increasing the seller’s pressure. Such setups in 2017, 2021 and January 2025 preceded the sharp correction, enhancing the possibility of similar pullbacks in the next few days.
Is XRP price in a technical correction?
In spite of the pullback, that is convinced XRP Bulls are still in control in higher time frames.
Number Cointelegraph reportedPrice remains bullish on the weekly candle chart, with a Bull flag That has been played since the November 2024 Rally, suggesting that the XRP could increase by $ 15.
Discovering a similar setup, crypto analyst cryptobull Says The price of XRP can rally at $ 5 in October.
“While the lower time frames (LTF) are worth monitoring closely. Higher Time Frame (HTF) trends are still crystal,” Says The analyst Egrag Crypto in a Monday’s post on X, suggesting that the ongoing pullback may be a technical correction.
She is shared A chart showing the formation of an ascending triangle on the monthly chart with the target price of XRP $ 27.
In an earlier review, Xforceglobal said XRP’s Macro Outlook remained bullish, along with Elliott wave Projecting analysis a I -Cycle the top above $ 20 for XRP.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
