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Click to follow the daily password👇No threshold and no feesXRP is expected to continue to rise, and there is no problem with the key technical levelsMarket analysis firm HolderStat said that XRP has signs of continuing its upward momentum because it is still running in an ascending channel.  Source:X XRP has recently rebounded near the key support level of 2.60, which shows that buyers have entered the market to hold this price point and stabilize the upward momentum. This rebound has laid the foundation for XRP to challenge the 2.70 resistance level. If it can break through 2.68, it will most likely attract a new wave of buying and push the price towards 2.75. In addition, as long as the support level can be held, judging from the upward channel, it should be able to maintain a stable upward trend in the short term. It should be noted that after XRP rebounded from 2.60, trading volume has been increasing, which shows that the market is more confident in its short-term rise. However, if it falls below 2.58, the upward momentum may weaken and enter a consolidation phase, and market sentiment will become neutral. So now XRP is fluctuating in the channel, and it can be seen that it is quite resistant to the overall market fluctuations. Analysts believe that as long as the upward channel is not broken, this cryptocurrency will most likely maintain a bullish trend, and traders will focus on the range from 2.68 to 2.70 to see if there are any strong signals or potential resistance. What happens next? The short-term outlook for XRP is cautiously bullish. A break above 2.68 may move towards 2.75, while a break below 2.58 may turn market sentiment to neutral. Rising trading volume and technical patterns suggest traders are keeping a close eye on XRP's next move in an ascending channel. On-chain indicator provider Santiment reported a sudden surge in retail investor interest in buying dips, sending a bullish signal for a short-term rebound. But past situations show that after retail investors’ enthusiasm reaches its peak, the market will often continue to fall before it really gets better. Santiment’s data also points to a key behavioral characteristic of cryptocurrency trading: collective sentiment often goes in the opposite direction of subsequent trends. If traders are talking about waiting for the next dip to enter the market, it usually means that the market will correct in the short term, which will bring greater selling pressure. After all, the more everyone thinks there will be a rebound, the greater the risk of eventual disappointment.  To sum up, XRP’s performance in the ascending channel shows that the market is cautiously bullish. The strong support near 2.60 shows that buyers are confident. If it breaks through 2.68, the price may rise to 2.75. However, if it falls below 2.58, it may enter neutral consolidation, and traders will have to re-judge the market momentum. In addition, there are more people discussing buying on dips on the Santiment platform. This reflects caution and does not necessarily indicate a rise. In the past, when retail investor optimism peaked, the market often experienced a wave of decline. Knowledgeable traders will control risks, keep an eye on on-chain signals and market sentiment, and are more inclined to enter the market in the opposite direction. That’s it for today’s article, I just wanted to join in and chat with you. QQ: 3928791161 |
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