XRPUSDT - FACES PRESSURE - WILL SUPPORT HOLD OR BREAK?Symbol - XRPUSDT
CMP - 2.1850
XRPUSDT remains under pressure despite the release of relatively positive news. The asset, currently in a downtrend, continues to test a critical support level, with the likelihood of a breakdown increasing.
XRP is consistently testing a robust support zone on the weekly timeframe. In the medium term, two potential scenarios could unfold, contingent on the overall market sentiment. Should the current market conditions persist, the probability of a downside breakdown and further decline becomes significantly higher.
At present, attention is centered on the key support level at 2.0637, where retests are occurring. However, the response to these retests is progressively weaker, which raises the likelihood of a continued decline towards the 1.90 - 1.63 range.
Resistance levels: 2.2650, 2.3650, 2.5090
Support levels: 2.0637, 1.9000
The broader cryptocurrency market is facing challenging conditions, including the ongoing tariff war, high inflation, declining stock markets, and a sense of disillusionment within the crypto community due to unmet expectations. Until these macroeconomic factors show signs of improvement, the technical outlook for XRP remains negative, and further declines may occur after a brief correction.
