CandleFocus

XRP Price Faces 8% Weekly Decline with Key Support Level in Focus

Author: Content Editor
The XRP price has seen a significant decline of over 8% in the past week after reaching its highest levels in six years. It is now approaching a critical support level at $2.17, which could determine its short-term trajectory. Momentum indicators like RSI and CMF suggest mixed signals, with some signs of recovery but not enough to confirm a strong bullish trend. The RSI has increased from below 20 to 43.12, indicating a shift in momentum and potential buying interest. The CMF is currently at 0.04, reflecting a slight dominance of buying pressure but a decrease from previous levels. The support level at $2.17 is crucial, and if it breaks, it could trigger a significant downside move with the next support at $1.89. On the other hand, if XRP can regain its December uptrend, it could see further upside potential. Targets for resistance levels include $2.33, $2.53, and $2.66.

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