XRP Coin Investors Attention: If this support is lost, a 30 percent decrease is possible!

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XRP Coin Investors Attention: If this support is lost, a 30 percent decrease is possible!

According to analysts, the price of XRP Coin may decrease to the level of $ 1.60 if the decrease signals in the daily graph are confirmed.

CPI data damping hopes to recover the price of xrp coin

The XRP Coin is moving horizontally between 2.50 and 2.30 in recent days and is difficult to give recovery signals. The fact that inflation data came above expectations caused the XRP to hang below $ 2.40. An analyst argued that the price may further decline if the critical $ 2.20 support was lost.

The XRP analyst DOM states that the average moving average (EMA) bands are decisive in price movements. Historically, when the 50 -day and 100 -day EMA bands were descended, XRP experienced at least 30 %correction and entered a short -term downward trend.

Between 2017-2021, the price of the XRP price below 50-100-day EMA levels was accepted as a strong bear signal.

If the XRP completes its daily closing below $ 2.20, the price may drop to the $ 1.50 – $ 1.60 band.

However, the continuous purchases of Coinbase, Bitstamp and Bitfinex investors continue to enter the spot market. Binance investors have not made a significant movement since February 7. Analyst Dom made the following comment:

Whenever the demands in the Binance Spot market begin to increase, the price of XRP is rising. The XRP’s price movements greatly directs Binance.

XRP liquidity makes the price remain above $ 2.50

Since February 7, XRP continues to move horizontally and the general appearance tends to decline. However, it is difficult to determine a clear direction unless the price increases above $ 2.50 or falls below $ 2.30.

For now, XRP accumulates liquidity in both supply and demand zones. These levels can determine the future price movements of XRP. Testing the $ 2.50 resistance three times last week, the XRP can first pull the liquidity at 2.32 and then move towards $ 2.50.

The US CPI (CPI) data above expectations shows that inflation pressure continues. Therefore, the US Federal Bank (FED) may not go to interest rate reductions soon. The highest CPI data described since June 2024 is said to be a downward printing in the crypto market because it directs investors to avoid risk.