XRP Price at a Crucial Juncture as Bulls & Bears Fight Hard for Supremacy
The inclusion of XRP in the strategic reserve of cryptocurrencies is a huge step that can enhance the strength of the platform. In this way, the price of XRP triggered a huge rise and cleared several resistance zones at $2.27 and $2.89. However, the Bears appear to have entrusted those areas to $3, triggering a rejection, confirming that tariffs on Canada and Mexico were dragged and dropped by more than 20%.
Currently, the Bulls are working to raise their levels above the previous day’s closure, but the Bears have put a huge pressure on the price to be limited to under $2.35. Then what is next? meeting XRP Price Losing key support at $2, or regaining lost dominance and gaining resistance right away?
Prices lost high and low lows, but after rejection, the token seems to have entered in the same pattern. The Bears seem to have a grip on the rally, suggesting a flashing bearish signal from cryptocurrencies. In addition, entering the demand zone is expected to attract a lot of liquidity, which is an urgent liquidity pushing the price higher than $2.8. However, the technology has turned bearish, indicating that the lower target area has been activated between $2 and $1.96.
XRP’s daily chart shows that the Bulls defended local support at $2.272, but from a broader perspective, the Bears appear to be preparing for a massive price action. The price has reached the lower band of the Gauss channel, which has turned bearish. A drop below this range may prove to reach the bottom price. Meanwhile, after witnessing a small bullish flip, MACD is in the negative range and a bearish crossover is about to occur.
As a result, XRP prices continue to maintain a huge bearish impact, potentially eventually dropping to $2 or slightly below the range. On the other hand, an uptick above $2.5 may delay bearish action, but a surge above $2.8 may suppress the possibility of bearishness. Recently, the Securities and Exchange Commission (SEC) abandoned investigations and litigation against multiple crypto platforms, which raised speculation about closing lawsuits with the SEC.
However, analysts and XRP supporters believe that this could take several months, so until then, it is believed that prices can maintain a slow and steady rallies.
