XRP Faces Bearish Pressure Below $2 Mark
XRP is still trading at a price below the key level of $2. This movement of the price is an indication of distribution in advance of a possible down trend. The cryptocurrency is continuing to live in the bear market. Weakening momentum is verified by technical indicators of several time periods.
Besides, the decline of below one point eight three made bearishness strong. There is obvious downtrend formation on the 12-hour chart. A longer interval is also a pointer of a possible reversal of the trend. Opportunities should be observed at these levels by traders.
Key Support Levels: $1.50 and $1.25 Zones
Major psychological support in the future is the $1.50 level. This test region would give a temporary calm. Nevertheless, it is very hard to escape there. Trend reversal must be enhanced by its fundamental conditions.
In addition, there is more support on the areas of $1.25 and 1.00. These amounts are aligned with the huge gap in November 2024. There they can be better entry points by buyers. At present, it seems that it is too early to take up positions according to the market situation.
Recovery Grabs Short-Term Recovery Signs.
Bullish divergences are demonstrated on lower time frame indicators. Every downwards push exhibits declining selling strength. There is a three-drive pattern which indicates possible support locally. These are signs of potential weekend recuperation in the future.
Also, the support zones of $1.98 and 1.70 are promising. XRP could temporarily hit a high of $1.83. However, it is hardly probable to break beyond that point. The existing basics do not favour long-term upward movement.
Basic Risks: Iran Tensions and Government Shuts.
The biased government shutdown introduces uncertainty in the market overnight. Cryptos are at risk of geopolitical instability with Iran. These underlying factors usually exert negative pressures on the cryptocurrency prices. The market is dominated by risk-off.
In turn, bearish technicals are correlated with adverse fundamental background. The 7-day rolling VWAP is still above the existing prices. Such combination makes the environment of bulls difficult. Before purchasing, traders need to wait before the situation improves.
Trading Strategy: Waiting till Confirmation Signals.
In the present market, patience is an important factor. XRP exhibits apparent bearishness over periods of time. The purchasing will occur in fortified levels. The zone of 1.50 should be monitored closely in the future.
Finally, merchants must not take a tumbling knife here. Wait till the basic improvement and technical assurance. Pay attention to risk management at volatile times. Newer entry points are likely to be introduced.
Crypto news writer since 2022, covering blockchain, digital assets, and market regulation.
Focused on clear, accurate reporting and simplified analysis for global readers.