XRP (XRP) Analysis: What's Next?

In our analysis yesterday, XRP was caught in a phase of lateral movement, with liquidity left both above and below the price.

In our previous analysis, XRP was observed to be engaged in a lateral price movement, leaving behind liquidity both above and below the current price. Two zones were identified and marked as potential areas for reactions, and the market obliged.

Now, let’s shift our attention to the current outlook and explore the possibilities for XRP’s next move.

A glance at the H1 timeframe reveals that XRP indeed moved upward, targeting the liquidity above before reacting at the supply zone we pinpointed. However, the strength of the reaction at this level appears to be lacking, suggesting that there is still untapped liquidity waiting to be absorbed above.

This behavior highlights an important point: XRP may still have some unfinished business to attend to at higher levels before considering any significant downward movement.

Upon closer inspection on the M30 timeframe, we encounter another notable supply zone that could come into play. If XRP retraces to this area, it might align with the goal of taking out the remaining liquidity above.

Traders are advised to keep a close watch on this level for potential trading opportunities.

While the possibility of a reaction at this supply zone is present, the strength of the response will ultimately determine whether XRP starts to decline or continues its upward journey from here.

As always, stay informed, trade cautiously, and pay close attention to those key levels on the chart.