- XRP nears key zones toward $1.40, with critical support and resistance shaping its path.
- Red, Yellow, and Blue bands reveal mixed sentiment, highlighting bullish and bearish trends.
- Fibonacci retracement levels indicate potential price targets and opportunities for growth.
XRP (Ripple) continues to attract attention as it approaches price zones toward a potential target of $1.40. The data shows various price bands, each representing different market sentiments or potential trading behaviors that could influence XRP’s price trajectory.
These zones, which include levels like the Red Flag area, Support, Supply, and Bullish Continuation zones, serve as markers for both opportunities and caution for traders.
Red Flag Zone: A Historical Battleground
The “Red Flag Zone” represents a region of heightened caution. Historically, this area saw major activity from both bulls and bears, with dips occurring on May 8, 2023, and July 2024. During these dips, bearish sentiment temporarily dominated, pushing XRP into this caution zone.
The Yellow Range, established as a support zone on March 13, 2023, became an important level for XRP. This range functions as a support zone, providing a foundation for upward price movement. However, this region also acts as a price magnet, drawing XRP back to its levels.
Blue Range: Supply-Heavy Zone
The Blue Range, positioned approximately between $0.63 and $0.73, represents a supply-heavy zone. Each time XRP approached this range, bears responded with selling pressure, creating resistance.
This price level consistently proved to be a battleground where bulls and bears compete, making it challenging to break through.
The chart highlights several Fibonacci retracement levels that act as potential price targets for XRP. Levels such as 0.702, 1.236, and 1.618 represent retracement targets of $0.6360, $0.7399, and $1.1038, respectively.
Read also: XRP Ledger Sees Growing Use Beyond Payments, Data Shows
A large upward-pointing arrow from the current price around $0.5165 suggests optimism among traders who expect XRP to break out toward these higher levels, supported by Fibonacci retracement patterns.
Recent XRP Price Action and Market Activity
As of press time, XRP had declined 1.35%, bringing its price to around $0.5115. The cryptocurrency’s market capitalization, currently valued at about $29.09 billion, also decreased 1.36% over the past day.
Meanwhile, XRP trading volume reached $828.54 million, a 35.51% drop compared to previous sessions.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
