XRP Price Prediction For March 4
Ripple’s XRP is currently down more than 18% and trades at $2.30. After a brief rally, Bitcoin fell to $95,000, this broader market sentiment turned red. According to Josh, an analyst in the crypto world, XRP follows trends in Bitcoin and the broader stock market. After a short-term price pump, XRP has recently experienced a pullback, especially after briefly exceeding the resistance zone between $2.65 and $2.80. However, the price is now restored below this level,
Key support and resistance levels
XRP’s next important support zone is between $2.25 and $2.30. If the price bounces here, there may be a short-term recovery. However, if it breaks below $2.25, it may drop further to the $2 or even $1.95-$2.05 range. In the near future, this area is crucial to XRP.
Price structure and indicators
From a more positive point of view, there are some signs of bullish price action. XRP has formed higher highs in both price and RSI (relative strength index), indicating a possible shift to a more bullish market structure. This makes the current bearish difference continue.
The impact of Bitcoin
If Bitcoin continues to move sideways or fall further, XRP may reflect these actions. XRP is likely to go through some mergers in the short term before taking bigger moves.
Short-term indicators and negligence conditions
XRP recently showed an oversell signal, leading to a short-term rebound. Now, RSI points out the conditions for over-buying, indicating that a pullback may occur. Historically, XRP showed a price drop after this excessive signal, and this time it might not be different. However, RSI is now resetting more neutral levels, which may indicate a pause in the current bearish price action.
