The post XRP Price Volatility Getting Squeezed appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. As the market waits for a clear move, the price of XRP appears to be containing its volatility as it consolidates within a narrowing triangle pattern. XRP is currently trading around $2.19. It has had difficulty breaking important resistance levels but is maintaining its position above important supports, suggesting that a breakout may be imminent. Both the rising support trendline and the upper resistance line are respected by XRP, according to the price structure. This pattern usually denotes market indecision as buyers and sellers balance one another out. Nevertheless, as the pressure increases, sudden movement either upward or downward frequently follows such a squeeze. The next level of support for XRP is $2.10, which is followed by $1.84, where the 100 EMA offers more support. The critical resistance level on the upside is still $2.50. XRP/USDT Chart by TradingView If XRP breaks above this level, it may move toward $2.80 and possibly $3.00, depending on the state of the market. Failure to maintain support, however, might cause the price to drop toward the 200 EMA, which is at $1.60 or even $1.22. XRP has had a remarkable run in recent months, with the asset still up a significant amount from its pre-bull rally levels even with the current consolidation. Its resilience is still largely attributed to its…