Is a Rebound Still Possible ?
According to market analyst Ali Martinez, the TD Sequential indicator has issued a buy signal, suggesting that XRP might be ready for a short-term rebound. This could be an encouraging sign for investors looking to position themselves in XRP. The analyst even stated: “Buy XRP now.”
However, this sudden drop in XRP doesn’t appear to be merely market noise. Analyst Casi Trades pointed out that this was a clear indication that algorithms and liquidity strategies were dictating trades. After the initial fall, the crypto cleanly touched the next key level : the Fibonacci retracement of 0.382 at $3.04.
Key Target to Watch : $3.21
The key level to monitor now is $3.21, the same Fibonacci 0.236 level that was previously lost. If XRP manages to reclaim it, this could signal that the bottom is in and the next bullish phase is about to begin. However, if it fails, Ripple could revisit the $3.04 level. Current signals indicate that the lowest point might already be established.
The important support zone sits around $3. The token recently touched this level after dropping from approximately $3.40. If the price remains above $3, it’s a positive sign for buyers. Should it fall below, the next support could be found near $2.90.
To the upside, in case of an Ripple rebound, resistance is expected around $3.30 to $3.40, and potentially around $3.60 if bullish sentiment returns. These levels could slow any upward progress in the short term.
Should We Worry About XRP ?
XRP remains particularly sensitive to variations in Bitcoin’s market dominance. When Bitcoin dominance decreases, XRP often records strong gains. However, even small recoveries in Bitcoin dominance can lead to a decline in XRP’s price.
XRP is at a critical juncture, with technical indicators suggesting mixed outlooks. Investors should closely monitor these key levels to anticipate future movements in XRP’s price. Although the situation is volatile, technical signals indicate that the bottom might already be in place, offering interesting opportunities for informed investors.
