XRP faces another 10% dip: When will bulls step in?
XRP is currently trading near the critical support level of $2.75, facing potential further declines of 8-10% towards $2.50. Analysis of on-chain data shows a significant buyer cluster between $2.45 and $2.55, which could lead to aggressive buying and a rebound if prices drop to this range. The technical setup indicates a descending triangle, typically a bearish signal. If XRP retests the $2.50 area, it may do so as early as Monday after potential market movements into the weekend. Despite similarities to earlier patterns, historical price behavior may not repeat precisely. A break above $2.90 could invalidate the current bearish outlook. Additionally, liquidity compression and ETF developments suggest that XRP may be on the cusp of a significant price expansion after a prolonged period of narrow trading. However, sellers have largely dominated the market recently, and any bullish momentum will depend on a significant volume shift from buyers. The market's response to upcoming ETF news may also play a critical role in determining XRP's trajectory in the near future.
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