XRP Analysis: These are the most important levels for Ripple investors

Ripple (XRP) has been moving under the border of 3 dollars for almost two weeks. This seems to have been officially lost. Last month, analyst Erik Juffermans of NewsBit warned a possible decrease in the direction of 2.50 dollars when XRP came out under that psychological limit for the first time. Has that scenario been getting closer now?

Important moment for the XRP course

The graph below clearly shows that XRP has been in a correction phase in July since the top around $ 3.50 in July. No surprise, given the sharp rise that preceded it. The big question now is where a potential soil can arise.

Yesterday the course found remarkably strong support in the zone between 2.70 and 2.75 dollars. That is a level that we already identified at the beginning of last month as a target target. At the time, XRP was just below 3 dollars. Now we have arrived there, and the reaction is promising. The remarkably high trade volume in particular points to the willingness to buy investors under the 3 dollar border.

XRP must make a choice

In last month’s analysis we already mentioned $ 2.70 as the ‘line in the sand’. A clear breakthrough down could give room for a further fall in the direction of $ 2.40. However, it is not that far yet. If we look at the 4-hour graph, we see that XRP is in a clear downward trend.

For a turnaround towards the highs of 3.50 dollars, XRP must first break the resistance zones between 3 and $ 3.10. This zone, marked with a purple flat on the graph, is crucial. A breakthrough of the falling trend line would be the first signal of a trend cover.

At the same time, the space between the diagonal trend line and the horizontal support at $ 2.75 is becoming tighter. That means that XRP should choose a clear direction within a few days, possibly even today.

Worst case scenario

If XRP manages to break up, the test awaits around 3 dollars. But if the rate drops below 2.70 dollars, it can go fast. On the weekly graph we see another support zone between 2.40 and 2.50 dollars. This is an area that is especially interesting for long -term investors.

A weekly closure under the current range makes the road free for a decrease of around 15 percent from the current price level. For traders it is therefore a crucial moment: an outbreak in any direction can set the tone for the coming weeks.