XRP price drop belu $3, analyst dey target $2.6 and $2
XRP price drop below $3 afta e no fit reclaim di main $3.30 resistance. According to technical analysis, analyst Ali Martinez highlight one Parallel Channel pattern for di daily chart. Di mid-channel support wey dey $2.60 and di lower bound at $2.00 na next potential target. Recent breakdown under $3 add bearish pressure, like di quick failed breakouts above and below di channel dis year. On-chain cost basis distribution show say investors dey accumulate strong near $2.81, wey dey add support level. Crypto traders suppose dey watch these support levels and look out for rebound above $3.30 to confirm say momentum dey bullish. Short-term volatility fit persist as XRP price dey test these technical levels.
Bearish
XRP no fit reclaim di $3.30 resistance and drop come down under $3, e dey follow di bearish Parallel Channel pattern, wey mean say e fit go $2.60 and $2.00 levels. For history, small breakdowns inside dis channel don quick recover, but if e dey reject key levels steady, e mean say downside momentum strong. Di on-chain cost basis distribution near $2.81 fit give some support, but e no sure say e fit stop deep retracement if market sentiment turn negative. Similar pattern for other altcoins show quick sell-offs when breakout fail, wey dey cause more volatility for short-term trading. So, e good to get bearish outlook until XRP price fit break key resistance well. Long-term direction go depend on broad market recovery.