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XRP has encountered significant price fluctuations this month, once again falling below the $3 mark due to sustained selling pressure in the cryptocurrency market. If XRP fails to reclaim the $3 threshold, market experts believe this could signal ongoing weakness for the altcoin, potentially opening up opportunities for investors at lower levels. Crypto analyst SiDec has shed light on this scenario, pinpointing $2.86 as a notable buy zone, which aligns with the 0.786 Fibonacci retracement level.
Following the recent drop, SiDec points out that XRP is targeting the liquidity on the selling side, where leveraged investors’ stop-loss orders cluster with pending buy orders. This liquidity often accumulates just below swing lows and is swept before a price recovery. This behavior indicates a search for new footing, even amid short-term fluctuations.
According to SiDec, this liquidity is heaping just above $2.80, and this accumulation seems likely to continue. Therefore, the region around $2.86 presents a favorable entry point based on risk-reward considerations. The pullback coinciding with the 0.786 Fibonacci level also heightens the probability of the price reaching this area. As pending buy orders increase, this likelihood grows stronger.
SiDec also suggests that waiting for confirmation can maximize any potential opportunities. He emphasizes the importance of tracking signals such as order flow, delta changes, or footprint imbalances, which may indicate a return of buyers to the market and an impending upward pressure. Positions opened without these confirmations risk being worn down by short-term market noise.
Upon confirmation, SiDec marks $2.86 as the primary entry zone for the altcoin. He describes the $3 band as the initial profit-taking point, targeting $3.0129 as the full goal. Should buyers fail to intervene, a downward signal would be indicated by a drop below $2.80. Beneath this threshold, a deeper decline could unfold, presenting new opportunities at lower price points.
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By COINTURK NEWS
about 5 hours ago
