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Categories:

Hot right now:

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

XRP Price News Today

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The post XRP Price News Today appeared first on Coinpedia Fintech News

XRP’s price action has been a topic of interest, especially with its current bearish trends across multiple timeframes. XRP has gained more than 6% in the last 24 hours and is trading at $1.90 at the time of writing.

According to experts, XRP is trapped within a descending parallel channel, hinting at a short-term bearish trend. The critical support here is around $1.75, with resistance at approximately $2.66. Additionally, the centerline of this channel, acting as a short-term resistance, sits near $2.15.

Recently, XRP broke below the short-term support range of $1.95 to $2.05. As of now, it’s retesting this area, which could potentially act as new resistance. A confirmed breakout above $2.05 could lead to resistance at $2.15, with further hurdles around $2.24 to $2.30.

Current Market Conditions and Patterns

Currently, XRP is in a corrective phase, moving in an ABC structure. There’s a cluster of support around $1.55 to $1.57, which might offer a temporary bounce. However, the overall trend remains down unless XRP can decisively break above $2.17. If it fails to do so, we can expect further declines towards $1.55, possibly even testing the $1.33 to $1.21 range.

Weekly Perspective: Fibonacci Support Levels

XRP has bounced from the 78.6% Fibonacci retracement level, providing support near $1.60. This level is crucial—if XRP drops below this, the next support could be around $1.30 to $1.40. The resistance levels to watch are near $2 and a strong barrier at around $3.

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FAQs

Why is XRP price going up today?

XRP gained over 6% today due to short-term buying pressure and optimism around Ripple’s legal progress and ETF-related news.

Could XRP reach $20?

While possible long-term, XRP must break major resistances and gain regulatory clarity before approaching the $20 mark.

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