Here’s How You Can Gain 60% Profits in XRP as the Price is Primed to Drop to the Buying Range Below $2
since Ripple price As prices soared past the critical $1 mark, market participants became optimistic about the next price move. The price continued higher and broke above $2.5 over the next few days, confirming a gain of over 400%. The price increase is believed to be driven by a variety of reasons, such as possible regulatory clarity, changes in market sentiment, and the possible end of Ripple’s lawsuit with the SEC. Furthermore, the star coin led the market as the price soared past $100,000, consistently hitting highs in the range for several days despite significant upward pressure.
What’s next for XRP price growth after the recent pullback? How long can it stay in the buy range below $2? Will it trigger a rebound and hit a new high for the year?
Since the price broke out of this range, the coin has attracted significant long and short liquidations, which has offset their impact. Meanwhile, long liquidations reached a high of over $53 million on the final trading day, while short liquidations were capped at $13 million. The trend continues with long liquidations exceeding $12 million and short liquidations exceeding $4.2 million, maintaining the bearish trend. The bears appear to have a firm grip on the rally, so prices are expected to test local support soon.
Prices continue to trade within a strong ascending range, which has been a strong support. After breaking out of the symmetrical triangle, the price continued to test this support in the short term, indicating a decrease in buyer power. However, the technical picture points to short-term gains as the Stochastic RSI fell into lower ranges while the MACD indicated rising selling pressure, hinting at a break below $2.
Levels around $1.98 appear to be a strong support area and are expected to provide a good buying opportunity to re-enter with potential upward momentum. Therefore, if the price holds at this support, the next target could be $2.5 or higher, indicating that the bullish trend will continue. A break below support points to further declines, but the current trading setup suggests a rebound is likely with the target extending to $3.
