XRP Technical Outlook
XRP coin is trading close to a very critical price zone on the daily timeframe. A test to the upper border of the trend is about to occur within the ascending pattern. Both the horizontal resistance and the trend resistance intersect around $3.10–$3.20, which suggests that the current price area is a very strong sell zone, which is being tested currently.
If the price can break above this strong resistance zone with great momentum, then the first price target will be the level of $3.40. Following this level, $4 and $6 can be considered middle-term targets. On the other hand, if we see a possible pullback or in case of a correction, the support levels to follow are $2.90, $2.63, and $2.55. We will see the short-term buyer situation around these levels.On the whole, XRP coin is in the decision phase at this price range where both horizontal and trend-based resistances are tested.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
