XRP was faced with a serious problem, experiencing a sharp decrease in price by 25% in just one week. Although he made attempts to recover, Altcoin has not yet completely restored the confidence of investors.
Market moods remain careful, and the responsibility for recovery now lies on a specific group of investors.
XRP has a chance to bounce back
The balanced feelings surrounding the XRP remain predominantly pessimistic. The recent pricing action, including an unsuccessful attempt to form a new record maximum (ATH), left investors to feel dull. A sharp decrease in altcoin last week only deepened skepticism, and many decided to accept the expectation and see.
However, if market conditions improve, there is a potential for changing moods. If the indicator of balanced moods rises above the neutral line, for the first time in a month he will celebrate the return of bull moods. Such a shift can encourage the resumption of interest on the part of investors and cause the movement of a positive price movement.
The macro -enlarged XRP impulse shows signs of stability, and the middle -aged indicator (MCA) continues to grow. This growth signals that long -term holders (LP) choose Hodl, and not sell during a decline. LTH is often considered the basis of any asset, and their decision to win a decisive role in stabilizing prices.
Their actions indicate that, despite the recent prices, they are confident in the long -term prospects of XRP. This behavior helps to prevent further drawback and provides potential for price restoration. Since LTH continues to hold their positions, they can help create a strong base for the future rising impulse.
X -ray price forecast for the price: grow until the next barrier
Currently, the XRP is traded at $ 2.47, which is making efforts to restore 25%after a recent accident. Holding above the support level in the amount of $ 2.33, XRP forms the ascending wedge, which involves a potential upward movement. Altcoin must maintain this support in order to continue his recovery path.
While the ascending wedge is the macro-honey template, the short-term prospects of the XRP remain positive. A destination up to $ 2.70 seems likely, and if Altcoin manages to break this resistance, it may rally by $ 2.95. This price level is a decisive test for XRP, determining whether a bull tendency can be supported.
However, if the bearings of the market conditions are preserved, the XRP can return to the support level of $ 2.33. The loss of this support deprives of canceling the gaze of the bull, which will lead to a further decrease in the price. This scenario will probably weaken the mood of the investor and delay any potential recovery.
