XRP Down 4% Again, But ADA Tees Up A Potential 50% Rally
XRP (CRYPTO: XRP) dropped 4% on Thursday, but technical analysis shows Cardano (CRYPTO: ADA) may be gearing up for a 50% rally.
XRP Faces Rejection As Sellers Defend Resistance
Price Analysis for XRP (Source: TradingView)
XRP continues to struggle against the $2.17 to $2.31 supply region, with each push higher triggering renewed selling.
Even with the recent rejection, XRP is still hanging onto $2 support, and that is the only reason the chart has not broken down into panic territory.
That $2 line is not random, as it matches the 0.236 Fibonacci retracement and also lines up with the rising little trendline that has been holding XRP together for the past few weeks.
Whenever the price touches it, buyers quietly appear and defend the level.
If XRP ever loses $2 cleanly, the chart immediately opens to $1.98 and then $1.81, which is where the lower part of the big channel sits.
That is the “don’t test it” level, because a fall into that zone resets the entire structure back to mid-November bearishness.
Until XRP flips …
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