$XRP XRP is currently under downward pressure after an initial decline from the upper range.
At the current time (near $1.76) the market has begun to attempt stabilization after the most recent downturn. Support for XRP will exist at the lower end of the 1.71-1.76 range. Demand was seen in this same range previously; therefore it is currently being tested by supply. So long as XRP trades above this support, there is still a possibility of a short term reversal. Initial evidence of a potential recovery will be a breakout above 1.82. Improving momentum may allow XRP to reach the next resistance zones near $1.88 and $1.95. Downward pressure will continue if sellers can reject attempts to trade above $1.82. A decisive break through the lower end of the 1.71-1.76 support zone, would indicate further weakness in the underlying structure and potentially push price down to $1.65. Overall, XRP is currently in a corrective phase following a major rejection. Therefore, due to high volatility, patience and confirmation are required. This is my own opinion of the market, supported by price action and significant levels.
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$XRP XRP is currently under downward pressure after an initial decline from the upper range.
At the current time (near $1.76) the market has begun to attempt stabilization after the most recent downturn.
Support for XRP will exist at the lower end of the 1.71-1.76 range.
Demand was seen in this same range previously; therefore it is currently being tested by supply.
So long as XRP trades above this support, there is still a possibility of a short term reversal.
Initial evidence of a potential recovery will be a breakout above 1.82.
Improving momentum may allow XRP to reach the next resistance zones near $1.88 and $1.95.
Downward pressure will continue if sellers can reject attempts to trade above $1.82.
A decisive break through the lower end of the 1.71-1.76 support zone, would indicate further weakness in the underlying structure and potentially push price down to $1.65.
Overall, XRP is currently in a corrective phase following a major rejection.
Therefore, due to high volatility, patience and confirmation are required.
This is my own opinion of the market, supported by price action and significant levels.