The XRP price retreated, losing gains from its Sunday rally after a strategic reserve announcement. Crypto analyst Trade City identifies key support levels, $3.06717 and $1.67220, critical to determining XRP's path. The ascending trendline breakout above $0.73056 led to a bullish movement heading towards $3.06717, noted by Trade City as the all-time high and a vital supply area.
Trade City observed that the Relative Strength Index (RSI) has exited the overbought zone. The bullish scenario could unfold if XRP maintains above $3.06717 and RSI re-enters overbought conditions. Further analysis on the daily timeframe revealed a bearish RSI divergence, forming amid the $2.02967 to $3.30467 range, suggesting a potential price drop.
A break below $2.02967 could initiate a broader correction to key Fibonacci levels like 0.382, 0.5, and 0.618. If the XRP price breaks upwards, it could reach new highs, potentially rallying to $4. Presently, XRP trades around $2.32, down over 12% in 24 hours.
