Pundit Who Correctly Predicted XRP Price Crash To $2.5 Says Demand Zone Will Send It Soaring
XRP’s price trajectory has been fluctuating over the past two weeks. In particular, most of the past seven days have been Characterized by significant decline From $2.8 to $2.5, then bounce back at this level.
Interestingly, a crypto analyst on the TradingView platform highlighted this fall, $2.5, and he also pointed to the potential for breakthroughs. Crypto analyst Tehthomas previously identified the $2.5 level as a key fair value gap (FVG) that could serve as a strong support, and recent price changes suggest that buyers are now stepping in after reaching this level.
XRP test key fair value gap is $2.50
Tehthomas’ analysis Highlighted $2.50 XRP can establish important liquidity zones that support before continuing to rise. This level has been an imbalance in price action during this cycle and often elicits reactions as traders step in to fill the gap. At the time of analysis, XRP was trading at $2.64, but analysts noted that cryptocurrencies may continue to decline until they reach $2.5 and rebound to rise.
In the past two days, XRP has Consistent with this projection. The cryptocurrency was recycled from $2.64, down to $2.47 before showing a quick recovery. The rapid rebound in the area suggests that buy orders are concentrated at this level, and bulls who are expected to react here have also been involved.
Now, the decline and rebound have been expected, with the focus on how XRP performs over the next few days. After testing and respecting this $2.5 support zone, the next question is whether the Bulls are It can be based on this momentum And push up.
Demand area sends altcoins soar
As the fair value gap shows signs of acting as strong support, crypto analyst Tehthomas believes the next critical step in XRP is breaking On the downward trend line of resistance. The breakout point of this downward resistance trend line is about $2.65, and the path between $2.5 and $2.6 is the open long position demand zone. However, after the breakthrough, it is also possible to retest the downward resistance trend line. If the XRP price can be successfully retested and surpassed the trend line, it will provide confirmation for bullish momentum to rise further.
If this case, XRP’s next target is $3.00, which is another key fair value gap. Tehthomas points out that retraction of this level may Trigger extended gatheringsdepending on market conditions, the potential for further upwards exceeds $3.
At the time of writing, XRP is trading at $2.55.
