$XRP 🪐 XRP today remains flat trading between $2.08 and $2.10. The sideways movement of the markets seems to break neither upward nor downward. The sentiment indicators towards cryptocurrencies remain in fear.
Is now a good time to buy cheap and strengthen long positions? At Cryptonews, we are keeping up with everything happening in the market to provide readers with the best breaking information. The price of XRP hovers around $2.07, with a slight increase in the weekly balance.
XRP balances on exchanges have fallen by nearly 45%, reducing the circulating supply for trading.
The chart shows an increasingly narrow symmetrical triangle around the $2 area.
Analysts see a potential movement of 15–20% when the breakout occurs.
A close above $2.12–$2.15 could trigger a rally. Losing $2 would open a bearish scenario. XRP offers a classic scenario of "compressed spring."
On one hand, the 45% drop in available supply creates a conducive environment for violent movements. On the other, the technical triangle suggests that the market is very close to choosing a direction.
The price of XRP may continue in a range for a few hours or even a few days, but indicators point to the upcoming movement being intense.
For the investor, the key is to watch levels, avoid impulsive entries, and remember that when liquidity decreases, volatility tends to increase, potentially launching the price of XRP to that of one of the cryptocurrencies that are about to explode. What do you think, will it continue to fall or will it rise?
