- XRP shows two major levels for traders, offering potential low-risk entries during its current market correction.
- Targets include $2.6281 and $2.9948, signaling possible recovery if XRP rebounds from the highlighted key buy zones.
- The descending wedge suggests a breakout is likely as XRP consolidates within narrowing price levels.
XRP has moved into a market correction after a strong bullish rally and is consolidating within a descending wedge pattern. Analysts have identified two critical buy zones that could offer traders opportunities during this period of retracement and consolidation.
The first buy zone is at $2.0496, while the second is at $1.8681, marking key levels of support. These levels are likely to attract buying pressure, giving traders potential low-risk entry points. If the price rebounds from these zones, it may target $2.6281, followed by the second resistance level at $2.9948.
Source: Rose Premium Signals
This market correction aligns with XRP’s retracement levels based on Fibonacci analysis, which frequently marks significant turning points for asset prices. Additionally, the narrowing wedge pattern signals potential for volatility as the price approaches a breakout.
Key Buy Zones Offer Strategic Entry Points
The buy zones at $2.0496 and $1.8681 are areas where the price is expected to find strong support during the correction. These levels align with Fibonacci retracements, which traders use to predict significant price movements.
The $2.0496 level provides the first opportunity for traders looking to enter the market after the recent rally. The deeper zone at $1.8681, described as the “best area to buy XRP again,” presents an attractive second option. These levels represent areas where buying pressure could increase and where traders may enter positions.
The descending wedge pattern supports these buy zones and signals a potential breakout as price action narrows further.
Resistance Levels Highlight Possible Price Recovery
If XRP rebounds from these zones, analysts predict an initial target of $2.6281, which is likely to face moderate resistance. Breaking through this level could drive the price toward $2.9948, representing a stronger resistance point.
These targets are aligned with key technical levels and suggest a bullish recovery may follow the ongoing market correction. Traders monitoring these price points can use them as potential profit-taking zones.
This phase presents a critical opportunity for traders as XRP consolidates. The pattern’s setup, combined with Fibonacci retracement levels, provides a clear roadmap for possible price movements.
