The cryptocurrency market remains dynamic today as Bitcoin (BTC) 
$106,671 reaches $104,000 and Ethereum (ETH) 
$2,543 gains over 20%, surpassing $2,300. Positive momentum is also evident in the altcoin market, with XRP’s price rising above $2.30, creating an optimistic atmosphere. A notable boost for Ripple’s XRP came as the U.S. Securities and Exchange Commission (SEC) submitted a settlement agreement to the court. According to analyst Josh of Crypto World, despite positive developments, XRP has yet to show strong recovery signals and continues its downward trend in the grand scheme.
XRP’s Three-Day Chart Maintains Downward Trend
The three-day price chart analysis by Josh of Crypto World indicates that XRP is still in a downward trend. The formation of lower highs and lows points to a sustained decline over months. Despite short-term minor jumps, the primary trend has not yet shifted to a bull market.
$2-XRP-Coin-Analizi-scaled.jpg” alt=”” width=”2560″ height=”1147″ />The analyst warns, “The chart resembles experience from the past: remember that bottom formation takes time,” suggesting that the price might not experience a strong breakout soon. After testing resistance for several days, XRP may dip below the trend line, indicating the need for caution among investors.
Crossing $2.45 Key for Bull Run Entry
The next major obstacle for XRP to reverse its direction upward is around $2.45. A daily close above this level could play a crucial role in the trend reversal. Subsequently, forming a higher low could signal the onset of a new upward wave.
However, the price may continue to fluctuate within the $2.33–$2.45 range. In the altcoin market, psychological factors often lead to testing and retracting from this range. Patience and avoiding hasty decisions can help mitigate position risks.
As is well-known, in the altcoin market, XRP generally moves in parallel with Bitcoin. If Bitcoin’s rise continues, XRP may exhibit similar short-term momentum. Nonetheless, to truly join the bull run, it is imperative to breach the main resistance areas.
