XRP Maintains Strength Above Key Support Level
- XRP holds firm above the $1.38 support level, indicating resilience despite recent market corrections.
- The current pullback is seen as a corrective three-wave decline rather than a trend reversal, suggesting potential for future gains.
- Analysts highlight the importance of defending the $1.38 swing low to maintain the bullish technical structure.
- The internal B-wave support zone between $1.40 and $1.42 has reached its extension target near $1.41, often marking the end of a corrective phase.
- Binance spot Cumulative Volume Delta (CVD) remains stable, hinting at quiet institutional accumulation of XRP despite price lows.
XRP’s ability to stay above the crucial $1.38 level suggests that recent downward movements might be part of a larger bullish setup rather than a deeper market decline. The stability in Binance spot CVD further supports this outlook by indicating underlying demand during consolidation phases.
Maintaining the $1 .38 support level is critical for XRP’s potential upward movement and could signal an end to its current consolidation phase . (Source)
