After recovering to the $2 level,
$XRP entered a consolidation phase without rushing to sell. Current indicators suggest reduced volatility with stable price movement — a traditional sign of strength following recovery. 📊
Support and Resistance Levels:
- The $1.80 - $2.00 range remains a strong demand zone, where buyers appear at every dip and form higher lows.
- The price is currently retesting the breakout area above $2, a zone that typically determines the direction of future movement.
Possible Scenarios:
🔼 Uptrend: A clear breakout above $2.30 could open the path toward $2.70.
🔽 Downtrend: Losing the $2 level could weaken the price structure and trigger a retest toward $1.70 - $1.90.
On-chain Data:
- Wallet balances remain stable.
- Exchange reserves indicate limited selling pressure.
- Network activity is showing a renewed increase.
- These factors point to a phase of **accumulation and positioning**, not distribution.
Summary:
As long as the price holds above $2 without a decisive breakout above $2.30, patience remains a strategic element. The next move is expected to be decisive. 🚀
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