XRP Could Be Forming a Major Bottom as Price Holds Near $1.40
XRP is testing one of its most important support zones after giving back part of its recent rally. The token jumped 71.8% from $0.988 to $1.698 before correcting around 20%, but veteran trader Matthew Dixon now sees signs that a bigger bottom may be forming.
Here's what makes this area so important: selling pressure appears to be slowing, but XRP still needs to reclaim several resistance levels before traders can call it a confirmed new uptrend.
• Key Support: Around 3.2B XRP were traded between $1.35 and $1.38, making this one of the strongest demand zones on the current chart.
• Bulls Need $1.70: Holding $1.20-$1.30 and breaking above $1.70 would strengthen the setup, while a move above $2.00 could signal a larger recovery.
• Downside Risk: If XRP loses $0.94 on a weekly close, Dixon says the next targets could fall toward $0.75 and eventually the $0.55-$0.60 zone.
The important range now is $1.35-$1.86 for XRP. If buyers defend support and push through resistance, momentum could shift quickly, especially if the broader market and $BTC stay strong.
#XRP #BTC Price Analysis#
#Macro Insights#
XRP is testing one of its most important support zones after giving back part of its recent rally. The token jumped 71.8% from $0.988 to $1.698 before correcting around 20%, but veteran trader Matthew Dixon now sees signs that a bigger bottom may be forming.
Here's what makes this area so important: selling pressure appears to be slowing, but XRP still needs to reclaim several resistance levels before traders can call it a confirmed new uptrend.
• Key Support: Around 3.2B XRP were traded between $1.35 and $1.38, making this one of the strongest demand zones on the current chart.
• Bulls Need $1.70: Holding $1.20-$1.30 and breaking above $1.70 would strengthen the setup, while a move above $2.00 could signal a larger recovery.
• Downside Risk: If XRP loses $0.94 on a weekly close, Dixon says the next targets could fall toward $0.75 and eventually the $0.55-$0.60 zone.
The important range now is $1.35-$1.86 for XRP. If buyers defend support and push through resistance, momentum could shift quickly, especially if the broader market and $BTC stay strong.
#XRP #BTC Price Analysis#
#Macro Insights#
