XRP Price Stalls Above $2 Support – Bullish Reversal Tomorrow?
The XRP price crashed 20% lower this week, falling to $2.0667, but the support zone held and now we’re seeing a bounce higher, which might be the start of a bullish reversal, if the price action goes right.
After a remarkable rally in late 2024 and early January 2025, Bitcoin (BTC) and Ripple (XRP) reached new all-time highs. However, February has brought signs of exhaustion to the crypto market. Bitcoin has been unable to break past the crucial $100,000 resistance level this month and has now fallen below the $90,000 support zone. Similarly, Ripple has struggled to surpass the $3 mark and remains below the 50-day Simple Moving Average (SMA) (yellow), signaling strong resistance.
Bitcoin and Ripple Break Key Support Levels
The decline accelerated as key technical levels failed to hold. The 100-day SMA (green), which had previously served as a solid support level, was breached yesterday. This breakdown led to a sharp two-day selloff, as shifting risk sentiment in financial markets negatively impacted both the stock and cryptocurrency sectors.
Signs of a Potential Bullish Reversal in XRP?
Despite the recent downturn, there are hints that the selloff may be nearing an end. If XRP closes the day around $2.80, it could form a bullish pin bar candlestick—a potential signal of price reversal after a pullback. Investors and traders will closely watch Bitcoin’s closing price and market sentiment to assess whether this is merely a temporary correction or the start of a more prolonged downtrend.
Bitcoin Chart Daily – The 100 SMA Held As Support
The cryptocurrency market is at a critical juncture. A resurgence in buying pressure could push Bitcoin and Ripple back above key resistance levels, potentially reigniting the bullish trend. However, if market weakness continues and sellers maintain control, further losses may follow. The next 24 hours will be crucial in determining the short-term direction of the crypto market.
Bitcoin BTC Live Chart
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