XRP Buy Zone as Price Enters Critical Moment
$XRP has entered a critical price zone, as recent weak price action has seen it drop below a key support trendline on the daily chart.
$XRP has dropped like the rest of the market, chalking off 3% of its price in the past 24 hours. The asset’s nearly 7% drop in the past seven days has now placed it in an area of interest, where bulls need to step in quickly, or the current price downturn continues.
Key Points
$XRP has entered a critical moment, dipping below a multi-month symmetrical triangle.
This structure has kept $XRP in check since January 31, with the coin forming lower highs and higher lows within the triangle.
Unless bulls step in quickly and push $XRP into the triangle again, the target appears to be much lower prices.
The area between the 0.786 and 0.854 Fibonacci levels, around $1.08 to $0.86, is the next buy zone.
$XRP Loses Multi-Month Support
CasiTrades highlighted in a recent X post that $XRP has entered a critical moment. She expressed her restlessness as the fifth-largest cryptocurrency by market cap dipped below a multi-month symmetrical triangle.
This structure has kept $XRP in check since January 31, with the coin forming lower highs and higher lows within its upper resistance and lower support boundaries. However, a string of daily bearish candles has seen it drop below the multi-month ascending support to areas the analyst described as “critical” for prices.
Notably, CasiTrades had earlier warned of this in earlier analysis, highlighting the coin’s inability to break above the $1.65 resistance area. This zone, near the golden pocket Fibonacci retracement level, had persistently capped upside attempts since February. A weaker uptrend after each rejection also showed that momentum was gradually fading.
Eventually, bears took full control, successfully breaking the lower support barrier. With that broken, $XRP seems primed for more downsides.
Analyst Reveals $XRP Buy Zone
Unless bulls step in quickly and push $XRP into the triangle again, the target appears to be much lower prices. Even CasiTrades agrees with this, as she highlighted the next buy zone should the bearish trend continue.
She identified the green zone in an accompanying chart as the area where buyers should start reentering the market. Per the chart, this area lies between the 0.786 and 0.854 Fibonacci levels, around $1.08 to $0.86. From the current price, it would require a 15% to 32% pullback to reach those levels.
$XRP Buy Zone/CasiTrades
On what happens next, the chart provides context. Her analysis expects a rapid resurgence from the green zone to retest the key resistance level near $1.65. CasiTrades had earlier identified this area as a make-or-break point for $XRP, noting that bears remain in control unless the coin breaks above this price level.
Weak Derivative Market but Spot Flow Suggests Accumulation
Current market data shows that the weak price action has wiped out $19.22 million worth of leveraged positions in the past 24 hours, with $18.8 million being long bets. Meanwhile, short positions have suffered the most losses in the past 4 hours following the slight rebound from recent lows.
$XRP 24-Hour Liquidation/Coinglass
The liquidation seems to have affected futures flows, as more futures contracts were closed than opened during the same period. Futures inflows stood at $763.5 million and outflows at $865 million, representing a net change of $102 million. Aside from liquidations, traders also seem to willfully close positions, probably as a proactive safety measure amid increased price volatility.
Meanwhile, spot flows show a more optimistic scenario. Millions of $XRP are leaving exchanges, as market participants appear to be buying the dip. Inflows of $127.30 million and outflows of $142.16 million in the past 24 hours suggest that a net of 14.86 million in $XRP left trading platforms globally.