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XRP Price Prediction: Will XRP Break Out or Break Down?
- XRP price is consolidating near a critical support-resistance zone after a volatile mid-June run.
- The asset is testing its 20-day and 50-day simple moving averages, indicating consolidation on the daily chart.
- Key resistance levels include $2.23, $2.27, and $2.38, with support at $2.10 and $1.90.
- The SMA 200 at around $2.38 acts as a significant ceiling for XRP price.
- On the hourly chart, XRP shows a pump-and-dump pattern, with key moving averages converging around $2.16–$2.19.
- Low volatility candles suggest a potential breakout or breakdown soon.
- Upside targets include $2.38 and $2.70 if XRP breaks above $2.23, with a downside risk to $1.70 if it drops below $2.10.
- Traders are advised to wait for breakout confirmation above $2.23 with volume or below $2.10 to determine the next direction.
- XRP price compression near key moving averages indicates impending volatility.
- Risk-aware traders should observe the $2.23 resistance and $2.10 support levels for potential entry points.
- XRP is poised for a decisive move, and traders should be cautious of a potential breakout or breakdown.
- Short-term traders can consider scalping within the $2.10–$2.23 range, while long-term investors should wait for a breakout beyond $2.38.
- The price action suggests uncertainty regarding the next direction, emphasizing the importance of confirmation for traders.
- XRP's volatility and moving averages' convergence hint at an imminent significant price move.
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