XRP Struggles Below $2 After $5 Million Liquidation Event
- Liquidation Impact: On January 18, XRP faced a liquidation wave due to macroeconomic tensions, with over $5 million in leveraged trades being forcibly closed, including approximately $1.05 million on Binance, indicating a sharp deterioration in market sentiment.
- Market Reaction: The consideration of up to €93 billion ($107.7 billion) in tariffs by Europe against the U.S. triggered a synchronized selloff across digital assets, causing XRP's price to plummet from a rebound high of $2.40 to $1.85, reflecting the market's sensitivity to geopolitical risks.
- Price Trend Analysis: XRP is currently trading around $1.95, hovering just below the psychological $2 mark, with the daily chart indicating that prices are trading below major moving averages, as sellers aggressively defend the $2.20-$2.40 supply zone, hindering potential rebounds.
- Recovery Challenges: For bulls, reclaiming the $2.10-$2.20 range represents the first step toward recovery; otherwise, the risk of another breakdown toward $1.85 remains valid, as market sentiment continues to be fragile.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.048 | 1.159 | 1.272 | 1.383 | 1.495 | 1.606 | 1.719 |
| Fibonacci | 1.159 | 1.245 | 1.297 | 1.383 | 1.468 | 1.521 | 1.606 |
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