An analyst has shared what he described as the optimal entry points for XRP, the XRP Ledger native token, as the broader market downtrend endures.
XRP’s southward spiral has entered the fourth consecutive week as the crypto market continues to retrace. Notably, analysts view this correction as healthy, insisting assets should consolidate after a bullish outburst for sustainable upsides.
As XRP consolidates, an analyst has updated the community on the asset’s current price action. In a December 30 post, MN Consultancy’s founder, Michael van de Poppe, provided sniper entries for XRP for maximum gains.
XRP Remains the Same
The top strategist maintains that nothing remarkable has happened in the XRP chart. Notably, this aligns with an earlier assertion from analyst Egrag Crypto, who insisted that XRP remains on course despite the downtrend.
Furthermore, Van de Poppe suggested that the XRPL native token is consolidating after a bullish outburst. For context, the digital asset surged over 400% in November following bullish macroeconomic factors like the resignation of U.S. SEC boss Gary Gensler and Donald Trump’s win.
Meanwhile, the analyst mentioned price levels, which he suggested are optimal entry points. He marked the levels in an accompanying 1-day timeframe chart, connoting that XRP could rebound from the major support areas.
Strategist Shares Ideal Higher Timeframe Entries
According to the analyst’s chart, the support area around $1.8185 is a potential buy zone for XRP. Notably, the asset has rebounded twice from this area, reinstating the strong demand wall around this crucial support.
For context, XRP bounced from the zone on December 10 after capitulating to an intraday low of $1.9010. Also, the digital asset repeated the same price action ten days later, rebounding from another low of $1.9584.
Meanwhile, Van de Poppe pointed out that $1.5764 is another demand zone where bulls should consider buying XRP. Last month, the former supply zone temporarily impeded XRP’s bullish momentum before the coin successfully flipped the area.
The analyst stated that XRP would retest higher timeframe supports, and he expects either of them to hold. Moreover, the rebound from either support will spur a retest of the December high and, subsequently, XRP’s all-time high.
In the meantime, XRP trades at $2.0699, below the 20-day EMA, which analyst Dom speculated was the bearish territory. The asset has corrected over 7% in the past seven days, mirroring a broader market downtrend.
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