XRPUSDT: False Rising Channel Breakout
2024-10-03

Dear traders, after failing to break the strong resistance level, XRP has started to retrace, falsely breaking out of the uptrend channel. This occurrence usually determines our medium-term outlook.

Currently, the short-term support level of 0.5200 is being tested, and if it fails to hold, there is a high probability that the price will continue to decline further towards 0.4885 and further to 0.4183.

Good luck to all traders!