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Should You Buy XRP Before the Next Big Move?
- XRP price is under pressure, slipping to $2.066 on the daily chart after failing to maintain momentum above $2.50.
- Traders are concerned whether XRP price will hold the line or sink lower in the coming days.
- Chart signals and technical indicators suggest a bearish trend, with XRP failing to close above $2.10.
- The Relative Strength Index (RSI) at 35.49 indicates weakening momentum, raising the risk of panic selling.
- XRP, currently above $2, saw a 300% gain from its base price prior to the November 2024 rally.
- Early investors are taking profits, leading to significant profit-taking and selling pressure.
- Key support zones include $2.05, $1.86, and major psychological support at $2.00, while resistances are at $2.10, $2.30, and $2.50.
- A break below $2.05 may lead to a retest of $1.86, while a bounce above $2.10 could target $2.30.
- XRP's history suggests quick reversals near $2, with a potential rebound if buyers intervene soon.
- The current chart setup indicates a bearish case unless there's a notable increase in volume in the near term.
- XRP is currently hovering around $2.05, with weak momentum and buyers staying cautious.
- Waiting for a signal above $2.10 with rising volume is advised for potential entry, else a dip towards $1.86 is possible.
- The article provides insights on potential XRP price movements, highlighting a bearish case below $2.05, a bullish scenario above $2.10, and a neutral consolidation range.
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