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XRP is confronted with a strong resistance level on its path to the price level of $ 3 and higher, with the last 24 hours witnessing a sort of rejection at this resistance level. XRP price promotion gradually built up a momentum in May, leading to a sharp movement to the upper range of $ 2.60. On May 12, XRP became short $ 2.63 Before withdrew somewhatNow acting around $ 2.57.
Direct Vooruit is the most important resistance to $ 2.69, and technical analysis shows that this zone now has the key or XRP CContinue a march to $ 3.00 Or undergo a withdrawal for consolidation.
$ 2.69 resistance is technical for the XRP price
Crypto analyst CasiTrades has emphasized the price of $ 2.69 as an important resistance level for the XRP price that is progressing. According to the graph of the analyst, who was accompanied A message on social media platform XThis level represents the 0.236 Fibonacci racement of XRPs of all time and is an important level to pay attention to correction.
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It is remarkable that this zone has led to several Retracements since December 2024, whereby every attempt to see sellers quickly deploy it to defend it. It even turned out to be difficult to break when XRP broke to reach $ 3.3 in January, and an order block was made on the daily candlestick -time frame For the subsequent rally above it.
As noted by the Crypto analyst, momentum indicators have remained relatively muted during the recent rally of XRP. The crypto has also completed what seems to be a full 5-wave Elliott count of the analyst. Instead of a retracement, however, the price slowly continued next to the rest of the cryptomarket. This slow, checked Higher often push signals Strong underlying demand, strong trend and heavy accumulation.
As it looks now, the only thing to do is to see how the XRP price performs at the $ 2.69 resistance.
Breakout or rejection: two opposite results with high impact
The analyst warns that the level of $ 2.69 could be a final barrier before XRP is erased for a run to $ 3.00 and then. A confirmed outbreak, ideally with a strong daily candle close to this level, would invalidate Bearish Press and cause a run above this level.
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However, if $ 2.69 is again too strong to overcome bulls, the Altcoin can enter into a temporary cooling phase. In this case, the following logical support level is around $ 2.30, which is close to the 0.382 Fibonacci retracement level. This is another breakout/rebound zone that can offer a healthy reset for the XRP price.
In both scenarios it is expected that the price behavior of $ 2.69 is expected Set the tone for the rest of May And determine whether XRP can extend its bullish trend from 2025. At the time of writing, XRP acts at $ 2.57, an increase of 4% in the last 24 hours.
Featured image of Getty Images, Chart van TradingView.com