XRP Price Recovery Hinges on Bitcoin’s Next Move
XRP recently attempted to break its all-time high but faced strong resistance, triggering a wave of selling pressure. Now, XRP’s fate is closely tied to Bitcoin, with a 0.92 correlation, meaning BTC’s price action could dictate XRP’s next move.
Key Bearish Signals for XRP:
🔻 Supply in Profit Dropped – XRP’s profit supply fell 3% after exceeding 95%, increasing selling pressure.
🔻 Critical Supports Lost – XRP fell below $2.95 and $2.70, now stabilizing around $2.46 with support at $2.33.
🔻 Investor Sentiment Wavers – If more holders sell to lock in profits, further downside is likely.
Will Bitcoin’s Recovery Lift XRP?
📈 Bitcoin Eyes 100K Support – If BTC stabilizes and climbs higher, it could fuel a market-wide recovery.
📈 Key Resistance for XRP – Breaking $2.70 is crucial for upside momentum. A move past $2.95 would invalidate the bearish outlook and set XRP up for further gains.
For now, XRP consolidation below $2.70 remains likely unless Bitcoin regains strength. If BTC pushes past 100K, XRP could follow, marking the beginning of a new bullish wave. 🚀
Key Bearish Signals for XRP:
🔻 Supply in Profit Dropped – XRP’s profit supply fell 3% after exceeding 95%, increasing selling pressure.
🔻 Critical Supports Lost – XRP fell below $2.95 and $2.70, now stabilizing around $2.46 with support at $2.33.
🔻 Investor Sentiment Wavers – If more holders sell to lock in profits, further downside is likely.
Will Bitcoin’s Recovery Lift XRP?
📈 Bitcoin Eyes 100K Support – If BTC stabilizes and climbs higher, it could fuel a market-wide recovery.
📈 Key Resistance for XRP – Breaking $2.70 is crucial for upside momentum. A move past $2.95 would invalidate the bearish outlook and set XRP up for further gains.
For now, XRP consolidation below $2.70 remains likely unless Bitcoin regains strength. If BTC pushes past 100K, XRP could follow, marking the beginning of a new bullish wave. 🚀
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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.
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.