XRP Infrastructure Strengthens While ETH Tests $2,000 Floor — Defensive Plays Emerging?
The crypto market is buzzing with activity as major players solidify their positions. Ripple's XRP shows signs of robust frameworks being laid, while Ethereum's attempt to stabilize around the $2,000 mark draws eyes. Amid these movements, certain coins seem poised for growth, hinting at emerging defensive strategies that could reshape investment landscapes. Read on to uncover the details.
XRP Struggles to Gain Ground, Eyes Potential Growth
Source: tradingview
XRP is currently priced between $1.32 and $1.65. It's wrestling with a nearby resistance at $1.82, hinting that moving beyond this point could lead to more gains. The nearest support is at $1.17, acting as a safety net. Recently, XRP has shown a tiny 2.67% uptick over the past week but remains down by nearly a third this month. Market momentum indicators, like a low RSI and a negative MACD, signal caution, although the possibility of reaching the second resistance at $2.15 exists. If successful, this would reflect a growth of over 60% from its current lower range, suggesting that the journey to recovery could still yield significant gains.
Ethereum's Price Struggles Amid Bearish Trend
Source: tradingview
Ethereum currently trades between $1860 and $2109, grappling with a challenging bear market. Over the past month, ETH has seen a steep decline of nearly 39%, and in six months, it has dropped around 60%. The coin’s nearest hurdle is $2252, but should it successfully break through, it could target $2501, marking a potential gain of about 32% from the current upper range. However, its RSI below 40 indicates it's still oversold, suggesting further downward pressure is possible before any significant rebound. The present numbers paint a cautious picture, with support around $1754 offering some stability for now.
Conclusion
XRP's infrastructure is showing strong improvements, suggesting a readiness for future growth. ETH, on the other hand, is hovering near the $2,000 mark, testing its resilience. Both assets are starting to look like solid defensive choices in the market.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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