XRPUSD - Key Support Confirmation
XRPUSD is currently forming a Descending Triangle, a continuation pattern that typically signals bearish momentum. The critical support level at $2.00 serves as a decisive point for price action.
Traders should monitor price action around the $2.00 level, as its reaction will determine the next directional bias.
- A successful defense of this level could trigger a short-term bullish reversal, with the immediate target aligning with the triangle resistance at $2.56.
- However, a confirmed breakdown below $2.00 would validate an AB=CD bearish continuation pattern, potentially extending the downtrend toward the major support at $0.64.
Traders should monitor price action around the $2.00 level, as its reaction will determine the next directional bias.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.