$XRP Market Update: Correction Phase Analysis
$XRP experienced a $1.138K long liquidation at $1.3934, signaling ongoing selling pressure. Price continues to trade below key moving averages — 7-day, 30-day, 50-day, and 200-day — confirming broader bearish momentum. The break below the main pivot point and important Fibonacci retracement levels reinforces downside risk. RSI is in oversold territory, suggesting potential short-term relief bounces, while MACD remains under bearish control.
The 24-hour price range shows declining volume and net outflows, reflecting cautious market participation. Immediate support is at $1.38, with a stronger zone between $1.375–$1.38. Downside risk extends toward $1.36–$1.365, while near-term resistance lies at $1.40–$1.405 and $1.415–$1.42.
Short-term bounces may occur due to oversold conditions, but the broader trend remains weak until major resistance levels are reclaimed. Watch for volume confirmation on any reversal attempt. DYOR.
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