In a recent video, JB discussed the current state of XRP in terms of price action and potential future moves. He noted that XRP has experienced recent price fluctuations, reaching a high of 54.92 cents before retracing.
On the 4-hour chart, JB identified support at the 200 EMA and a fair value gap that may be filled. He believes that XRP could experience a short-term move to 53 to 54.5 cents.
On the daily chart, JB identified resistance at 55.7 cents and a potential move downwards to 39.214 to 35.214 cents. He emphasized that the weekly and daily closes are critical for assessing XRP’s future direction.
JB also promoted Chey Crypto memberships and encouraged responsible trading.
Key Levels to Watch
- Support: 54.92 cents, 53 to 54.5 cents, 39.214 to 35.214 cents
- Resistance: 55.7 cents
Potential Future Moves
JB believes that XRP could experience a short-term move to 53 to 54.5 cents. However, he also noted that there is potential for a move downwards to 39.214 to 35.214 cents, depending on the weekly and daily closes.
Conclusion
JB’s analysis of XRP is mixed. He believes that there is potential for both upside and downside moves in the short term. Investors should carefully monitor the weekly and daily closes to assess XRP’s future direction.
Disclaimer
Cryptocurrency markets are highly volatile and risky. Investors should always do their own research before investing in any cryptocurrency.
