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Critical Warning for Ripple’s (XRP) Price After 30% Monthly Surge: Details

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TL;DR

  • Ripple’s cross-border token notched an impressive 30% surge from the crash this time last month, but an important technical indicator suggests that there might be a correction on its way.
  • For now, XRP remains within a tight range between a key resistance and a critical support line.

Recall the developments that took place a month ago when the entire crypto market plunged hard amid the escalating tensions on the Trade War front between the US and essentially the rest of the world.

Fast-forward a month, and the political situation seems a lot better, with reports that the US and China plan to meet soon regarding the remaining tariffs. Naturally, crypto prices have reacted to all developments.

A month ago, XRP plunged to $1.6 but now sits above $2.1. However, the TD Sequential on the 3-day scale hints at an upcoming correction. The metric, used to showcase an asset’s exhaustion in either direction, has flashed a sell signal, according to popular crypto analyst Ali Martinez.

Despite the brief slip below $2 a month ago, XRP has remained predominantly above that level. While some analysts believe that such a price is an ‘absolute gift,’ Martinez has highlighted multiple times how important it is for $2 to remain as support instead of turning into resistance if XRP slips below it.

In a separate post today, the analyst with over 135,000 followers on X also outlined the upper boundary in XRP’s current trading range – $2.26. The asset currently sits roughly in the middle of the two lines ($2.14), with no clear indication of the next big move. Martinez said more clarity will come whenever XRP decisively closes below $2 or above $2.26.

Prispevek Critical Warning for Ripple’s (XRP) Price After 30% Monthly Surge: Details appeared first on CryptoPotato.

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