XRP faces danger from a potential trap at the $1.90–$1.93 level
The latest technical analysis suggests that XRP may be forming an unprecedented bearish trap around the $1.90–$1.93 price range. Currently, with trading around $1.85, the support level at $1.90 is identified as a key liquidity threshold that investors need to watch.
**Important technical levels to monitor**
The 20-month EMA (around $1.93) serves as the main trend filtering tool, helping to determine the market direction. If XRP closes the month above this EMA, it would be a positive signal for a potential bottom formation. However, the opposite scenario should not be overlooked.
**Risks from a breakdown below**
A deep breakdown below the $1.90 support level could trigger further selling pressure in the cryptocurrency market. This is especially critical for traders monitoring XRP, as a loose script could be activated if the price continues to weaken. Tracking these technical levels will help the market better understand XRP's next trend.
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XRP faces danger from a potential trap at the $1.90–$1.93 level
The latest technical analysis suggests that XRP may be forming an unprecedented bearish trap around the $1.90–$1.93 price range. Currently, with trading around $1.85, the support level at $1.90 is identified as a key liquidity threshold that investors need to watch.
**Important technical levels to monitor**
The 20-month EMA (around $1.93) serves as the main trend filtering tool, helping to determine the market direction. If XRP closes the month above this EMA, it would be a positive signal for a potential bottom formation. However, the opposite scenario should not be overlooked.
**Risks from a breakdown below**
A deep breakdown below the $1.90 support level could trigger further selling pressure in the cryptocurrency market. This is especially critical for traders monitoring XRP, as a loose script could be activated if the price continues to weaken. Tracking these technical levels will help the market better understand XRP's next trend.