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Musadiq

06/17 16:53

XRP at “Range-Rebuild” Phase—Key Levels to Watch

$XRP is stuck within a price range, with a recent analysis highlighting levels the coin needs to reclaim for bulls to gain control of proceedings. $XRP has failed to maintain a clear price direction in recent times, with uptrends followed by pullbacks to lower prices. According to prominent market watcher EGRAG Crypto, this price action is not random but part of a broader range trend. In his recent analysis, he highlighted what needs to happen for $XRP before bulls can gain control of the market again and force a breakout to higher prices. $XRP in a Range EGRAG identified the battle between buyers and sellers. The former is defending key support areas while the latter is fighting to keep $XRP below important resistance areas. This behavior led to the conclusion that the coin is currently in a “range-rebuild” phase. Most recently, $XRP visited $1.05, breaking below its February low of $1.12. However, prices rebounded sharply, as buyers stepped in to violently defend the demand zone. Notably, the daily closing on that day printed a long lower wick, showing clear price rejection. The analyst highlighted that this was not random but confirmed his analogy that both bulls and bears keep stepping in at key levels in an attempt to regain control of the market. The upper wick seen on the daily closing on June 15 also reflected higher price rejection as bears defended the $1.30 resistance area.
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