Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11975
Markets: 92589
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11975
Cryptocurrencies
54.28%
Bitcoin Share
NewsBTC 2024-12-22 18:00:21

XRP Battles Critical $2.20 Support Level — Will It Target $2.70 Or Slip To $1.96?

XRP Battles Critical $2.20 Support Level — Will It Target $2.70 Or Slip To $1.96?

XRP has been trading in a decline over the past few days alongside the broader cryptocurrency market. However, despite this lull, the XRP price has managed to maintain its critical support levels and is currently positioning itself for a potential recovery. Related Reading: Ethereum Investment: Trump Crypto Project Grabs 722 ETH At $2.5 Million Interestingly, technical analysis highlights the $2.20 mark as a key level to watch for XRP going forward. This was noted in an analysis by popular crypto analyst Ali Martinez, who emphasized that XRP’s next major move could hinge on its outcome on this threshold. Key Levels To Watch: $2.20 Support And $2.70 Resistance The cryptocurrency market has faced significant selling pressure since December 17 led by Bitcoin’s break below support levels, leading to notable price corrections across various cryptocurrencies. XRP, in particular, saw its price fall from $2.708 on December 17 to bottom at $1.98 on December 20. This represented a 27% in three days. After it reached $1.98, the XRP price rebounded and regained the $2 price level. As it stands, XRP is now trading around $2.2, although it is still down by 7% in the weekly timeframe. XRP’s movement around the $2.2 price level has captured the attention of crypto analyst Ali Martinez, who suggested two ways the cryptocurrency can go from here. According to Ali Martinez, XRP’s ability to hold above the $2.20 support is crucial for its short-term bullish outlook. If this level remains intact, the token might enter a consolidation phase, but another attempt at the $2.70 resistance remains in play. From here, a strong bullish momentum above $2.7 could as well send the cryptocurrency above $3 for the first time in years. On the other hand, a break below $2.20 could trigger another quick XRP price decline toward $1.96 before it starts to attract fresh buying interest. Image From X: ali_charts Whale Accumulation Up Amid Crypto Market Correction On-chain data from Santiment suggests that XRP has captured the interest of whales during this recent downturn. Wallets holding between 1 million and 10 million XRP coins have accumulated an additional 80 million XRP since December 17, which points to strong confidence in the token’s long-term potential among whale addresses. This accumulation could provide a cushion against further declines below the $2 mark and set the stage for an eventual recovery. Related Reading: Dogecoin Dives: $29 Million Disappears During Market Collapse —Data Adding to the bullish outlook, technical analysis of the XRP price using Elliot impulse waves suggests that the recent crash below $2 might be the end of the second impluse wave, which is a corrective wave. With this in mind, bullish impulse wave 3 is expected to start anytime soon. At the time of writing, XRP is trading at $2.27. Featured image from Tech Xplore, chart from TradingView

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
54.28%
Bitcoin Share
319
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.