- XRP must close above $2.63 to confirm a bullish Double Bottom pattern.
- Failure to break resistance may trigger a five-wave downtrend and deeper losses.
- Traders watch volume and momentum to determine the next major move.
Ripple’s XRP is facing a critical test at the $2.63 level which might eventually determine its trajectory. A close above this price may confirm a Double Bottom pattern, showing strength. Failure to hold above this zone may trigger a sharp drop, leading to a five-wave downtrend. Traders watch closely, knowing the outcome will shape market sentiment. A breakout could fuel excitement, while rejection may bring fear. Every move at this level carries weight.
Double Bottom or Wave 5 Down?
Some traders call the Double Bottom the “Boobs” pattern. This formation suggests buyers are stepping in after testing support twice. A breakout above $2.63 would confirm strength, increasing the chance of a rally.Resistance between $2.63 and $2.65 remains a key hurdle. Breaking past this range could push XRP higher, attracting new buyers. Without enough momentum, hesitation may allow sellers to regain control.
A failed breakout could lead to lower prices. The risk of a five-wave decline grows if bearish pressure builds. Wave 5 patterns often lead to deeper corrections. A rejection at resistance may open the door for sellers to drive XRP downward. A weak close below key levels could accelerate losses. Traders remain cautious, knowing one move can shift momentum.
Watching the Next Move Closely
Closing prices near resistance will determine the outcome. A strong push above $2.63 could spark confidence. Weak buying pressure may leave XRP exposed to further declines.Volume plays a crucial role in confirming direction.
A surge in demand may validate a breakout. Low interest could invite another round of selling. The battle between bulls and bears continues at this key price level.XRP traders must stay alert. The next move depends on how price reacts near resistance.
A breakout could open the door to higher levels. Failure to close above $2.63 may bring another leg down. Every second counts as the market waits for confirmation.
