XRP Price Nears Potential Bottom at $0.87 Zone After Breaking Key Support Levels
By
Rizwan Ansari
Summary
XRP has lost the $1.19 support level and its 0.786 Fibonacci retracement, with analyst ChartNerd pointing to the $0.84–$0.87 zone as the next major support. This area, where the long-term Gaussian Channel and 0.854 Fibonacci level converge, has historically marked bear market bottoms and preceded new uptrends. XRP has lost over 50% of its value in the past year and currently trades at $1.06, shaking investor confidence.
Source
bskyXRP Price Nears Potential Bottom at $0.87 Zone After Breaking Key Support Levelscoinpedia.orgKey quotes
· 3 pulledAccording to the XRP chart analyst ChartNerd, the recent drop in XRP price began after it failed to hold the $1.19 support level.
He believes the next major support sits between $0.84 and $0.87, where XRP's long-term Gaussian Channel and the 0.854 Fibonacci level meet.
According to the analyst, this area has historically marked the end of bear markets and the beginning of new upward trends.
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