XRP has seen a sharp 25% pullback from its recent local high of $2.90, leaving investors questioning its next move. Despite the correction, many analysts remain optimistic about XRP’s potential to regain momentum, while others predict a deeper retracement before any significant rally. The market appears divided, with bulls eyeing a possible breakout and skeptics attempting a quiet sell-off.
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Crypto analyst Harry weighed in on the discussion, sharing detailed technical analysis on X. He highlighted that XRP could target the price of $4 after completing a deep retracement. Harry’s analysis suggests that while bullish sentiment remains valid, the path ahead may require additional consolidation or short-term reductions to reset market conditions.
This divergence of opinion underscores the uncertainty surrounding XRP’s price action. Will the retracement provide a launchpad for the next rally, or will it pave the way for prolonged bearish pressure?
as XRP hovers near key levelsThe coming days will determine whether the bulls or the bears gain control. For now, XRP holders and traders should watch these movements carefully, as the future of the token depends on breaking this current barrier.
The price action before the run signals the storm
XRP has suffered a significant retracement recently, and many analysts believe that further correction or consolidation may be on the horizon before a bullish continuation. After reaching high levels, the token stagnates, with some experts predicting a period of stability. However, the bullish camp remains optimistic, expecting new highs in the coming months as buying pressure builds.
Top analyst Harry X shared his insightsIndicating that XRP has yet to retest the critical $1.96 breakout level. Currently, the price is hovering between $1.96 and the 2017 high of $2.77. According to Harry’s technical analysis, this position indicates a bullish trend.
He further suggests that if XRP’s current flag formation breaks to the upside, the token could be set for a powerful rally to new highs.
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This analysis follows weeks of speculation surrounding XRP’s price movement, particularly in light of Bitcoin’s volatile movements. BTC has fluctuated around the $100K psychological level, repeatedly breaking and missing it. These conditions have added an additional layer of uncertainty to the market, leaving traders unsure of what to expect next.
XRP is showing decisiveness
XRP is trading at $2.40, representing a 14% recovery from its recent local low of $2.16. Despite this bounce, the token’s price action remains uncertain as market sentiment remains divided. Traders and investors are closely monitoring the next moves, with no definitive signs pointing to either a bullish continuation or the formation of a cycle top.
The main levels to watch are $2.25 and $2.50. If XRP manages to hold above the $2.25 support and reclaim the $2.50 level in the near term, it could signal the start of a renewed bullish rally. This scenario will likely attract additional buying pressure, pushing XRP closer to retesting its recent highs. However, the market’s current uncertainty reflects widespread uncertainty, and any failure to recover these levels could lead to further consolidation or potential downside.
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As Bitcoin and the broader crypto market experience fluctuating trends, XRP’s next move will be crucial in determining its trajectory. For now, the token remains in a fragile state, and traders should exercise caution while keeping an eye on these key price levels. Whether XRP resumes its upward momentum or sees additional correction will depend on market conditions in the coming days.
Featured images from Dall-E, charts from TradingView
