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Mr.Arshman

06/17 16:48

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

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$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. 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. EGRAG noted that the levels are clear, and how $XRP reacts to each of them will determine whether its rebuilding phase continues or further price weakness endures. One of the most important support levels to watch is the $1.11 level. He called this the “survival zone” where bulls need to defend to avoid an aggressive downtrend. Holding it invalidates the possibility of a crash to $0.88. $1.28 is the immediate resistance and the next level to watch. $XRP has already lost momentum around it after testing earlier in the week. Reclaiming this zone is the first show of strength and would build the momentum f
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