XRP failed to hold above $3 and the price action is now turning bearish.
Key Support levels: $2.6, $2, $1.6
Key Resistance levels: $3, $3.3
1. First Major Sign of Weakens for XRP
It was critical for XRP to hold above $3 if there was hope of higher highs. This level was lost today and the price fell to $2.7. This drop has also turned the level at $3 into a key resistance.
The cryptocurrency fell by 11% today which shows sellers are returning. While this is a market-wide correction, the timing was quite unfortunate for XRP as this is turning the chart bearish.
Chart by Tradingview
2. Falling Volume Hinted at Correction
The first giveaway that a correction could be coming for XRP was seen on the volume profile. While the price made a higher high above $3, the volume did not do the same. This was an early sign that a bearish divergence was forming which called for caution.
Chart by Tradingview
3. Bearish Divergence Detected
The bearish divergence was quite obvious on the volume profile,
We współpracy z: https://cryptopotato.com/why-is-ripple-xrp-price-down-today/
