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Jakarta, Pintu News – In recent trading, Ripple (XRP) has shown price fluctuations that have caught the attention of investors and market analysts. In the last 24 hours, Ripple (XRP) has increased by 1.08%, but some technical indicators suggest that there could be more significant price movements in the near future. This article will dig deeper into the current trends and potential future price direction of Ripple (XRP).

On the hourly chart, Ripple (XRP) seems to be testing local support at $2.3189. If the daily close is below this level, there is a possibility that the price will continue to drop towards the $2.30 to $2.31 range. This decline could be an early indicator of a broader bearish trend if this support cannot be maintained. Investors and analysts should watch this daily close in anticipation of the next move.

On the larger time frame, Ripple (XRP) has once again run into resistance at $2.36. If the closing price remains around the current price or lower, the correction may test the support in the next few days. This suggests that selling pressure is still quite strong and could affect market dynamics in the short term.
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From a medium-term perspective, it is important to watch Ripple’s (XRP) weekly close in relation to the $2.2984 level. In the event of a break below this level, the existing momentum may be enough to push the price down to the $2.20 range. This breakout would be a significant bearish signal, indicating that sellers are taking control of the market.
Medium-term investors should consider this scenario in their investment strategy, as it could impact buying or selling decisions. Observing the weekly close will provide a better insight into market forces and potential subsequent price movements.

Given the current market dynamics, investors should exercise caution. Those with positions in Ripple (XRP) may need to consider effective risk management strategies, including stop-loss settings to protect investments. Additionally, opportunities may arise if the price reaches lower support levels, which could be an attractive entry point for buyers looking for a price rebound.
It is also important to monitor news and other market developments that could affect the price of Ripple (XRP). Factors such as market regulation, adoption of blockchain technology by large corporations, and the general sentiment of the cryptocurrency market could play a significant role in determining the future direction of the Ripple (XRP) price.
Although Ripple (XRP) is showing gains in the short term, technical indicators suggest that there could be more volatility and potential price declines ahead. Investors should pay attention to key support and resistance levels as well as broader market dynamics to make informed investment decisions. With a careful and strategic approach, investors can leverage price fluctuations to their advantage.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
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