XRP Dip to $2.6 Before Hitting $5.5-$6 ?
2025-02-01
Category: None

Since December, XRP has been moving within an ascending channel for 3 months.
After hitting the upper boundary and pulling back, it has been consolidating with low volume and doji candles for the past 2 weeks.

Now, it has dropped below the key resistance level.

Technically,  CRYPTOCAP:XRP  hasn't confirmed a direction yet.

However, there's a high risk that it could suddenly break down below the previous W-bottom neckline (orange line).

It already wicked below it once, and another breakdown could also take it below the ascending channel’s lower boundary.

This move could trigger panic selling, allowing smart money to accumulate more XRP.

Long-term, XRP remains bullish.

Any short-term dip is a buying opportunity.

If it breaks above the ascending channel, it could target $5.5 - $6.

But in this bull cycle, I believe XRP’s upside won’t be limited to just that.

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