[Analysis] "XRP(XRP), short-term rebound strengthens… additional rise if 2.204 dollars support holds"
Summary
- Reported that XRP(XRP)'s short-term rebound has strengthened.
- Stated that support at 2.204 dollars is needed for additional gains.
- Stated that if the 2.17 dollar area is deeply retested, there is a possibility of short-term structural weakening.
XRP(XRP)'s short-term rebound has strengthened, and analysis says that holding the 2.204 dollars price level is important for further gains.
On the 4th (local time), CoinDesk said, "XRP traded mostly in a narrow range between 2.19 dollars and 2.20 dollars on the day, and from the point it broke through 2.197 dollars a structurally clean rise unfolded, and together with a recovery in trading of top-cap altcoins the price expanded to 2.206 dollars."
In this process, hourly trading volume increased from around 450,000 units to 553,000 units, clearly strengthening trading intensity. CoinDesk analyzed, "Mid-to-short-term momentum remains favorable, but to continue rising it is necessary to hold the 2.204 dollars price level. Conversely, if the 2.17 dollar area is deeply retested, the short-term structure may weaken."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
