XRP Price May Drop Before Reaching Resistance: Accumulation Zones Mapped
A seasoned crypto analyst is warning that XRP's price may drop before it reaches resistance, potentially making the current price zone an attractive area for accumulation. According to Egrag Crypto, a hawkish Fed chair stance could deliver another blow to the general crypto market.
The 30-minute timeframe shows multiple layers of projection on accumulation zones, with the main one being between $1.26 and $1.30, where XRP's current price is situated. A downward move is expected, which could create an opportunity for buying, not a reason to panic.
In case XRP gets the hawkish surprise, Egrag Crypto is positioning itself with fundamental accumulation pockets. The analyst notes that 'volatility creates opportunity' and advises waiting for the right moment to accumulate XRP again.