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XRP Faces Major Distribution Phase With Key Support Levels
The current analysis of XRP suggests that the entire structure observed since December 2024 appears to be a major distribution phase. This hypothesis is supported by several pin-bars forming at key global turning points that date back to 2014-2015, highlighting their importance and relevance.
The primary target zone for this global decline is around the confluence point at approximately $1.35. The next significant level to watch is around $0.66.
This perspective indicates a bearish outlook with critical levels to monitor, implying caution for traders and investors.
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AI Analysis
The analysis of XRP’s market activity suggests that what has been observed since December 2024 is not just random fluctuation but a significant distribution phase. This phase is characterized by the f...
AI Recommendation
Given the analysis indicating a distribution phase and the key support levels at $1.35 and $0.66, it would be prudent for traders to adopt a cautious approach. Short-term positions could benefit from ...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.