XRPUSDT (PRICE CONSOLIDATION WITHIN ASCENDING CHANNEL)
2025-02-09
Category: None

HELLO FRIENDS

The price is currently stabilising within a consolidation area, potentially forming a third touch on the lower boundary of the ascending channel. This area could act as a strong support zone, potentially leading to a bullish rebound and an upward movement in line with the channel trend.

However, if bearish momentum persists and breaks this key support level, the price may drop further, targeting the next support zones labeled as Bear Target 1 at 2.2319, and possibly extending to Bear Target 2 at 1.9603 if the downward pressure continues.

On the bullish side, if the price holds and rebounds from this level, the first resistance level to watch is around 2.5085, with further upside targets at Bull Target 1 (2.7558), Bull Target 2 (3.0451), and Bull Target 3 (3.3610), following the trend of the ascending channel.