Ripple has faced a minor decline after being rejected at the $2.8 mark, but it is approaching strong support levels that increase the likelihood of a bullish rebound. These support levels include the 100-day moving average at $2.3, the $2 support range, and the support region between the Fibonacci levels of $1.9 and $1.6. This confluence of support levels makes a notable bullish rebound in the long term more probable. In the short term, further consolidation is expected, but if the price breaks below the crucial support at $2.3, it could lead to a cascade of further declines towards the $2 support level. The price action around the lower boundary of the ascending wedge at $2.3 will be decisive for short-term prospects.



Other News from Today