Ribel is close to the level of decisive support and warnings of a possible decline in the price

Ripple (XRP) is witnessing a state of tension in light of the wider market decline, especially after the sharp decline in the Bitcoin price, which approached the barrier of $ 100,000, and in these atmosphere, Ripple also decreased and approached the level of critical support of $ 2.1.

Although it still maintains its survival, this level is a pivotal separation between the upscale and possible collapse, as explained by the technical analyst known as “The Alamest Trader”.

A decisive support level determines the fate of the price

The Ribel value decreased by approximately 4.5% during the last week, which prompted it to approach a major support located a little above $ 2.09, and so far buyers are trying to maintain this level, but repeated attempts to test it indicate the possibility of its weakness and breaking it at any moment.

The analyst notes that the importance of this level does not stop only when it is a traditional price support, but also because it also represents the lowest value of a previous price area, in addition to being an intersection with the average movement for 200 days, which makes it a balance point between sellers and buyers, that is, a move at this level may direct the fate of the currency decisively in the short term.

What if the support is broken?

If support fails at $ 2.1 to withstand, the downward scenario will be the closest, as a liquidity liquidation wave is expected to pay the price to lower levels, and the danger increases with each time that this level is tested, which indicates an increasing twice in its ability to withstand, according to the “Thealmist”.

However, there is still an opportunity for the upscale scenario. If Ripple continues to cohesion above this support, a rise in trading volume accompanied by a return to levels close to the last local summits at $ 2.4, this may be an indication of the beginning of a new wave of rise.

The next trend is in the hands of the market

The analysis indicates that the apparent defense of this support if it is accompanied by a strong purchasing momentum may lead the currency to higher resistors, and in contrast, any fracture of this level without rapid recovery will enhance the chances of successive declines, and accordingly, the circulating analyst advises caution and not rushing to make decisions so that the technical vision is clear, whether through a strong bullish breakthrough or a certain decline under the level of support.