XRP price denies major bear pattern, but XRP ETF drama emerges
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U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.looked like it was headed straight for trouble as the infamous head and shoulders pattern had formed - a classic signal of an incoming price collapse. A break below the neckline at $2 could have meant a fall, possibly down to $1.50. For a moment, it seemed like that scenario was playing out. The price slipped below $2, touching a critical level. But then, something changed. Buyers stepped in, and suddenly, the bearish outlook was not so certain anymore.Solana Death Cross Incoming, Dogecoin Hits Last Possible Support, Ethereum Says Goodbye to $2,000 Now, XRP is back above $2, trading at $2.20, to be exact. The neckline did not give way but held firm, and that could be a turning point. If the support continues to hold, XRP might have room to push higher. The next resistance zone sits between $2.39 and $2.58, where both the 23-day and 50-day moving averages are lining up. Getting past that would give bulls more confidence, but the risk of another dip has not disappeared just yet.Meanwhile, the cryptocurrency space is all in on the altcoin ETF buzz, and XRP is right in the middle of it. Recently another big player, That alone could have been a boost for sentiment. But right after the news broke, the SEC threw cold water on the excitement. The regulator delayed decisions on several ETF applications, including XRP’s. So, what’s next? XRP’s move above $2 suggests buyers are still in control, at least for now. But the 200-day moving average at $1.63 remains a factor, pulling in the price like a magnet. If bullish momentum fades, another test of lower levels is not off the table.
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