The XRP price has entered a Golden Pocket—a key Fibonacci retracement level that often acts as strong support. According to a crypto analyst, this new development could present an attractive buying opportunity for investors, especially as the market consolidates.

XRP Price Golden Support Could Trigger Rebound

A crypto analyst, known as “ColdBloodedCharter’ on TradingView, has presented a detailed technical chart analysis of XRP, discussing its current position, potential future trends, and key buying levels. The analyst disclosed that XRP is currently inside a Golden Pocket, supported by a 50-day Moving Average (MA) directly below it. 

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The analyst noted that his previous analysis from the day before was playing out exactly as planned, with the new Golden Pocket acting as a resistance level when approached from below. On a short-term outlook, the TradingView crypto expert expects no immediate breakout for the XRP price. This bleak forecast is attributed to the possible selling pressure fueled by the recent 500 million XRP escrow unlocks initiated by Ripple Labs earlier this week. 

The analyst also cited XRP’s current consolidation phase, which started 19 days after hitting a cycle high, as a barrier to an immediate bullish price breakout. The last consolidation phase lasted as long as 39 days after XRP had reached $2.91 on December 3, 2024.

Looking at the analyst’s price chart, XRP formed a Bullish Pennant pattern, which led to an earlier breakout in 2024 before its consolidation phase. Based on this past trend, the TradingView analyst predicts that XRP could experience another two to three weeks of choppy price action before initiating its next big move. The triangle pattern on the XRP price chart suggests a strong rebound towards a bullish price target at $3.43 if the cryptocurrency can hold its Golden Pocket support. 

Key Buy Levels To Watch

While ColdBloodedCharter projects a rally to $3.43 for the XRP price, the TradingView analyst has also outlined key buy-the-dip levels investors can watch out for in preparation for this potential surge. The $2.50 level will be a primary support area for XRP, offering investors a 6-7% discount from current low prices.

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If XRP plunges further, the analyst expects it to reach the support levels between $2.25 and $2.30. He reveals that this price level is a much safer entry point and accumulation zone for investors, especially if Bitcoin (BTC) remains above $95,000.

The analyst has also highlighted a steeper support zone between $1.9 and $2.00. This support presents a significant dip-buy opportunity and is expected to occur if Bitcoin experiences a sharp pullback to new lows around $91,000. 

While further market declines will serve as a buying opportunity for many investors, they also pose a risk to those who purchased XRP during price highs. The TradingView analyst has revealed that XRP’s Relative Strength Index (RSI) is cooling down, suggesting weakening market momentum. However, he remains optimistic, predicting a strong reversal soon.

Featured image from Medium, chart from Tradingview.com

Avalanche (AVAX) price has been in a downtrend for the last two months, currently trading at $27. The altcoin has lost key support floors, which has caused whale investors to lose patience. 

Despite the ongoing pressure, there may still be hope for AVAX to recover and bounce back in the near future.

Avalanche Is Under Pressure

The current market sentiment for AVAX is under pressure as whale outflows reach a three-month high. As the price dropped by 23% this week, large holders have moved to sell off their holdings.

About 10.08 million AVAX over $272 million were sold in a single day 48 hours ago. This shift in investor behavior suggests a lack of confidence in a short-term recovery, with whales opting to minimize their losses rather than hold onto their positions.

This trend highlights the growing skepticism among influential investors. The whale sell-off has been a strong indicator of the bearish outlook, which is affecting AVAX’s price action. Large wallet holders are likely to focus on protecting their capital as the market remains volatile, reflecting caution among the broader investor base.

The overall momentum for AVAX is showing signs of nearing a saturation point in its bearish trend. The Relative Strength Index (RSI), a key technical indicator, is hovering dangerously close to dipping below 30.0, signaling that AVAX is inching into the oversold zone. Historically, once an asset hits the oversold region, it has often led to a price reversal as bearish momentum starts to exhaust itself.

This close proximity to the oversold zone could be an opportunity for a potential rebound. As more investors are likely to enter the market at low prices, AVAX may begin to see some support from bargain hunters, contributing to a possible recovery. However, this remains uncertain, and the market conditions will need to stabilize for a meaningful turnaround.

AVAX Price Prediction: Taking A Few Steps Back

AVAX’s price is currently sitting at $27 after losing the support level of $31 last weekend. The altcoin has struggled with a downtrend for the past two months, and a lack of buying momentum has only added to the bearish pressure. However, the current price is holding above the critical $27 support, which may present an opportunity for recovery.

While a continued drawdown is unlikely, given the saturated bearish momentum, AVAX is still at risk of falling to $22 if investor sentiment worsens and further sell-offs occur. The bearish pressure could persist in the short term, making it crucial for the altcoin to reclaim key support levels to avoid further losses.

On the other hand, reclaiming the $27 support could give AVAX a chance to recover towards $31. A break above this level would invalidate the bearish outlook, signaling that a reversal could be underway. If AVAX can breach the $31 barrier, it could recover some of its recent losses and set the stage for a more significant rally.

Berachain announces airdrop details ahead of its mainnet launch on February 6. The network will airdrop 15.8% of its total 500 million BERA tokens to eligible users after the token generation event (TGE) on the mainnet.

Berachain’s mainnet launch has gained notable engagement among the crypto community, largely due to its unique Proof-of-Liquidity (PoL) consensus mechanism. The project previously raised $142 million worth of funding in two rounds. 

Berachain Airdrop Details

After the mainnet launch announcement yesterday, Berachain today revealed detailed tokenomics of the BERA token and airdrop details.

The distribution targets a wide range of participants. This includes testnet users, NFT holders, community builders, social media supporters, and ecosystem dApps.

The largest share of the BERA airdrop will go to holders of Bong Bears NFTs and related rebases—such as Bond, Boo, Baby, Band, and Bit Bears. This will include users who bridge their NFTs to Berachain. 

Additionally, over 8.2 million BERA tokens will be airdropped to users who participated in Berachain’s public testnets. 

The network previously launched two testnets, Artio and bArtio. These testnets were used to evaluate the network’s infrastructure and dApp performance.

The Berachain Foundation has set aside 1.25 million BERA tokens for community members active on social platforms, excluding dApp accounts and Berachain team members.

Also, in collaboration with Binance, Berachain will distribute 10 million BERA tokens to BNB holders. Those who subscribed to Binance’s ‘BNB to Simple Earn’ program between January 22 and 26 will qualify for this airdrop as part of Binance’s HODLer Airdrops campaign.

Berachain’s approach aims to reward early supporters and active participants within its growing ecosystem. This airdrop sets up the stage for the mainnet launch.

Users can check BERA airdrop eligibility using their wallet addresses. After the TGE and mainnet launch, BERA will be listed on Binance and MEXC.