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The XRP price is currently showing mixed signals, with short-rim support stilling, but warnings were warned on the long-TRICM chart. The XRP is also brightening a recession deviation. This is not a short -term signal and does not mean that XRP will crash today or tomorrow.
However, this means that the speed of boom decreases in the coming weeks or months. This signal has been in place for a whale and still has not gone, so it remains an important risk factor for XRP holders.
Daily Chart: Holding Support… For Now
On the daily chart, XRP is currently jumping from a fibonacci support level near $ 2.90. It is acting as a strong support area between ISA $ 2.90 and $ 3.00. If the value means to live this response, then we get more short-ends bounces.
However, if the XRP is closed below $ 2.90, there is a channel of a drop towards $ 2.75. Below him, there is another major support area between $ 2.55 and $ 2.62, which serves as a security trap in the case of a strong pullback.
To see resistance level
In short words, XRP features resist with a strong barrier between $ 3.10 and $ 3.20 around $ 3.10. If bulls can push through this region, the next resistance is close to $ 3.40.
But for now, XRP gets stuck in a color, stable with support but resistance prevents it from creating a strong motor.
Price pattern still looks familiar
Interestingly, the current price pattern for XRP looks very similar this year as to how the chart appeared this year. Despite the short daily moves, much has not changed in the last few days. This means that large structure remains the same, and it is not yet showing signs of strong rapid recovery.
Altcoin season is not yet in sight
Given the bitcoin dominance chart, there is still no indication of Altcoin season. As long as it is dominated by bitcoin, it may be to follow the leadership of bitcoin without showing large independent benefits in altcoins like XRP.
If the dominance of bitcoin remains flat or increases more, it can cause more damage to the Altcoin market. On the other hand, if the dominance of bitcoin is broken, it will invest the possibilities of a strong Rali attack including XRP.
