A recent analysis by R. Linda on TradingView shows that XRP price is facing a severe resistance zone after the recent recovery. Markets continue to show signs of instability After the previous liquidation, And XRP and Bitcoin are now moving into territory where further corrections are possible. According to analysts, XRP’s price movement is part of a broader correction phase following a significant decline. Although there has been some recovery, the movement seems weak and a new drop could form if XRP fails to overcome the resistance.
XRP price faces strong resistance after sharp decline
According to R. Linda’s analysis, XRP After a significant decline, it is currently in a correction phase. The overall crypto market is slowly recovering after a period of massive liquidation, but signs of weakness still remain. Both Bitcoin and XRP are heading towards strong resistance zones, which could lead to a return to selling pressure in the short term.
Related books
If XRP approaches this level, the market may slow down or even fall in price. R. Linda warns: This resistance zone Traders may choose to take profits instead of buying more, potentially triggering a fresh selloff. The correction phase that began after the recent decline could continue and lead to further declines.
Now, rather than preparing for a strong rally, the market is pausing before making the next big move. of Short-term trend of XRP price It remains vulnerable, and analysts are advising traders to be cautious in short-term trading. move upwards Something that lacks solid technical support.
Technical analysis shows possible breakdowns and false breakouts
Linda’s chart shows that after 2 months of consolidation, XRP price has broken through Support for its trading rangestructural damage was confirmed. Prices are currently reacting to that movement and are in the midst of a correction. XRP is currently testing a liquidity zone between $2.70 and $2.7266, an area where the price could face significant resistance and trigger further selling.
Related books
Analysts have marked key resistance levels at $2.70-$2.7266 and $2.8286, while key support lies near $2.5050. If you cannot sustain above these resistance levels May cause a rapid fall to support. R. Linda also points out that a sudden rally without strong technical strength can cause a false breakout, meaning that the price temporarily rises above the resistance level, but can quickly fall back.
If you get a false breakout like this, XRP price may correct downward The current price range poses a risk for both new buyers and short-term traders as it once again moves towards the $2.5050 level.
Overall, R. Linda’s view is that traders should approach the current XRP rebound with caution. The resistance zone remains an important turning point, and unless XRP breaks above the resistance zone with momentum, another price crash could occur soon.
Featured image created by Dall.E, chart on Tradingview.com
