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The 4-hour chart highlights a strong support area defined by the 0.5 (2 US dollars) and 0.618 (1.9 US dollars) Fibonacci retracement levels. This area has been the main defense for buyers, preventing a significant price drop.
Recently, XRP rebounded from there, triggering a lot of buying activity and causing a bullish reversal.
Although there has been a recovery, the altcoins are still confined within the range of 2-3 dollars. Buyers are trying to push the price towards the upper limit, but an effective breakthrough is needed to determine their next major move. It is expected that the volatility will intensify and continue to consolidate until this breakthrough occurs.