The XRP market is about to face a critical moment as inflation data is set to be released, and the market trends will undergo a significant test.



From a technical perspective, the current price of XRP at 3.1 has fallen below the Bollinger Band middle line at 3.15, a key level often seen as the dividing line between bulls and bears. The upper Bollinger Band at 3.19 creates strong pressure, while the lower Bollinger Band at 3.1 serves as the final support line. More importantly, the price is being compressed within a narrow triangular formation, indicating that a directional breakout is likely to occur tonight.

The chip distribution shows that there are multiple layers of trapped positions in the range of 3.28 to 3.38. The support level at 3.1038 has already been tested multiple times, and if this level is lost, 2.9220 will become the next key support point.

The CPI data released at 20:30 tonight will be a key factor in determining the trend of XRP. If the CPI data shows a cooling of inflation, it may bring positive news, but that does not mean XRP can easily break through to 3.5. In fact, the area above 3.15 still faces significant resistance, including the Bollinger upper band at 3.19, the accumulation zone at 3.22, and the institutional loss area at 3.28. Unless there is a large breakthrough beyond 3.28, the target of 3.5 may be difficult to achieve.

On the contrary, if the CPI data is negative, indicating a rebound in inflation, the support level of 3.1038 may be broken. At this time, it is important to closely monitor the market's panic sentiment and selling pressure. Although the possibility of breaking below 3.0 is high, there may be some support near 2.9220, which could trigger a rebound.

Regardless of the outcome, investors need to stay vigilant and adjust their strategies in a timely manner according to market trends. At such a critical moment, it is particularly important to remain calm and rational, and avoid blindly chasing highs and selling lows.
XRP5.43%
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OnchainDetectivevip
· 21h ago
Observe the range oscillation first.
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GlueGuyvip
· 21h ago
Let's see if there's a hard landing tonight.
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NewDAOdreamervip
· 21h ago
Being bearish is the best way to be bullish.
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FromMinerToFarmervip
· 22h ago
Buy, buy, buy is the right way.
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OnChainSleuthvip
· 22h ago
There are gains and losses, take it steady.
View OriginalReply0
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