CandleFocus XRP Forms First Major Bearish Signal
2024-12-08
Author: Content Editor
The article suggests that XRP's recent surge may be coming to an end, as the token has formed a lower high on the chart, indicating a loss of momentum in the uptrend. This development could lead to a possible price reversal and result in further retracement in the future. The lower high signal is concerning for bullish investors, as it often signals the start of a downtrend. Selling pressure may increase if XRP fails to break its previous peak and if volume continues to decline. Investors should pay attention to support levels at $2.30, $1.275, and $1.13, as well as the need for XRP to recover $2.80 to restore bullish momentum. The article advises investors to be prepared for possible volatility and to monitor XRP's response in upcoming sessions to determine if this is a long-term correction or a brief setback.
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