XRP presyoXRP

Another chaotic weekend, $BTC at its stability point, $ETH also waiting for the major coin to take off. The dog coins are crouching without barking, $PEPE wanting to make a big leap but still gaining momentum, and $XRP has us in suspense if it exceeds its breaking point or remains stable for another few years.

$XRP , the native token of Ripple Labs, seems to be struggling over the last few days. Amid this market uncertainty, data from the on-chain analytics firm Coinglass reveals that $35.96 million worth of $XRP is at risk of liquidation due to the current market sentiment. ◾XRP’s Major Liquidation Levels According to the $XRP exchange liquidation map, the major liquidation areas are near $2.231 on the lower side and $2.36 on the upper side at press time. At these levels, traders are over-leveraged. If the market sentiment remains unchanged and the price reaches the $2.231 mark, nearly $35.97 million worth of long positions could be liquidated. Conversely, if the sentiment shifts and the price rises to the $2.36 level, approximately $67.63 million worth of $XRP could face liquidation. This data shows that traders betting on short positions significantly outnumber those betting on long positions, indicating a bearish sign for $XRP holders. ◾XRP Current Price Momentum Currently, $XRP is trading near $2.28 and has experienced a price decline of over 1.35% in the past 24 hours. However, considering the market sentiment, traders and investors appear hesitant to build new positions, leading to a 31% drop in trading volume during the same period. ◾XRP Technical Analysis and Upcoming Level The continuous price fluctuations in $XRP have formed a bearish head-and-shoulders pattern on the daily time frame, indicating a potential breakdown. Based on recent price action, if $XRP fails to hold the neckline of this bearish pattern and closes an hourly candle below the $2.24 level, there is a strong possibility that the price could drop by 5% to reach the $2.12 level. This scenario could also trigger the liquidation of millions of dollars worth of long positions. On the other hand, if this does not happen, we may see an upside rally and a price rebound in the future.

$XRP has been showing resilience, holding up well despite the ongoing market correction. Although the short-term price action appears messy, it’s important to understand that XRP is currently experiencing a local pullback within a broader corrective phase. While the market is consolidating, this creates an interesting scenario for possible future moves. Triangle Pattern Nearing Completion The key chart development for $XRP is the triangle pattern that has been in play since December 3. After more than a month of price action, the pattern could soon complete, triggering a price move. Whether this breakout is to the upside or downside remains to be seen, but the next move could happen at any moment. Short-Term Price Action and Key Levels In a bullish scenario, $XRP could see an upside breakout. However, it may still dip lower before completing the triangle pattern. On the other hand, the bearish scenario suggests a deeper pullback before confirming a breakdown. While a move down looks more like a corrective pullback, it could still present an opportunity for consolidation before an upside breakout. Key Support and Invalidation Levels The critical support area to watch lies between $2.29 and $2.23. If $XRP breaks below $2.29, it could test the key invalidation level at $1.96, which corresponds to the swing low from December 20. At the time of writing, XRP is trading at $2.33 level and is up by more than two percent in the last 24 hours. Fibonacci Levels to Watch Before testing the $1.96 level, $XRP must navigate several key Fibonacci levels. These levels, between $2.23 and $2.24, are important to watch for signs of a potential bounce or further decline. A strong reaction at these levels would provide more clarity on whether XRP is setting up for a breakout or breakdown. Breakout Confirmation Levels For an upside breakout, $XRP needs to break above the green line at $2.50. This would be the first confirmation level of a breakout. However, to fully confirm the breakout, XRP must surpass the high of the D-wave.

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