Price Action Analysis for Coin #XRP 🙄
Coin $XRP on the daily timeframe is showing signs of entering a short-term downtrend, currently trading at $1.3105. This movement reflects selling pressure after failing to stabilize above the moving averages, which have started to cross negatively, creating dynamic resistance barriers against the price.
Based on the Fibonacci tool's data, the upcoming movement levels are defined as follows:
Pivot Point (PP): Located at $1.3862, this is the key area buyers need to break and regain stability above to reverse the current momentum towards the upside.
Targeted Resistance Levels: If the price successfully breaks the pivot point, the bullish targets are set at TP1: $1.5496, followed by the main second target at TP2: $1.6714.
Protective Support Levels: The price is approaching the first wall of support at ST1: $1.2700, while level ST2: $1.1172 represents the main and final support to maintain the overall structure.
The most likely scenario is a continued gradual drop to test the support level ST1, where buying forces are expected to emerge to attempt a bounce back again.
#XRP #Ripple #Crypto #AIMONACCI
Coin $XRP on the daily timeframe is showing signs of entering a short-term downtrend, currently trading at $1.3105. This movement reflects selling pressure after failing to stabilize above the moving averages, which have started to cross negatively, creating dynamic resistance barriers against the price.
Based on the Fibonacci tool's data, the upcoming movement levels are defined as follows:
Pivot Point (PP): Located at $1.3862, this is the key area buyers need to break and regain stability above to reverse the current momentum towards the upside.
Targeted Resistance Levels: If the price successfully breaks the pivot point, the bullish targets are set at TP1: $1.5496, followed by the main second target at TP2: $1.6714.
Protective Support Levels: The price is approaching the first wall of support at ST1: $1.2700, while level ST2: $1.1172 represents the main and final support to maintain the overall structure.
The most likely scenario is a continued gradual drop to test the support level ST1, where buying forces are expected to emerge to attempt a bounce back again.
#XRP #Ripple #Crypto #AIMONACCI