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XRP Faces Critical Test as Downtrend Pressures Key Support Zone

  • XRP is facing a critical test as a downtrend exerts pressure on a key support zone.
  • The downtrend from the $2.65 peak remains strong, with current price action struggling to reverse.
  • XRP's structure is bearish, with every breakout since $2.65 turning into a correction.
  • The $2.35-$2.38 zone is acting as a critical lower high, with a shift signaling a potential trend reversal.
  • XRP is testing the $2.13 Fibonacci level for the third time, with a breakdown becoming more likely.
  • A break below $2.03-$1.95 support zone could lead to deeper losses, possibly towards $1.55-$1.40.
  • For a rebound, XRP must break above $2.38 to shift the bearish structure.
  • This week's focus is on the $2.13-$1.95 support zone, with a bounce possible if this level holds.
  • If the support zone fails, bears may push towards multi-month lows.

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