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- Hey Square fam! How many Alpha points have you racked up lately?
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$XRP managed to stay above $2 in the first half of the year. The cryptocurrency, which reached new record levels in the general upward trend that started in July, has slowed down at a critical resistance point. XRP rose to $3.65 last week and turned the recent peak area at $3.3 into support. The cryptocurrency, which was moving in a downtrend in the first half of the year, has begun to test the boundary of the Fibonacci expansion level. Thus, $3.65 (Fib 1,272) has become significant for the continuation of the rise. Moves towards this price level are still weak. However, if a daily close above $3.65 occurs in a new wave of demand, we could see XRP accelerate towards $4.
Otherwise, the previous record price level of $3.3 will become crucial for maintaining the trend. As a result, this week, $3.65 may stand out as an important level for the continuation of the trend for XRP. As long as this level is not breached, there may be momentum towards $3.3 in possible profit sales. This support point will also be closely monitored in potential pullbacks. In case of a break, a pullback towards $2.8–3 may be observed.