XRP Price Insights: Resilience Amid Global Tensions, Yet Risks Remain
XRP shows potential signs of weakening despite optimism in the broader cryptocurrency market. An analysis of its recent price movements reveals key support and resistance levels.
XRP is currently exhibiting signs of weakness following a recent breakout, although the general market sentiment remains cautiously optimistic. In the face of escalating geopolitical tensions in the Middle East and Asia, Bitcoin and other cryptocurrencies are performing surprisingly well, and XRP is no exception.
XRP Price Analysis: The USDT Pair
XRP made its way into a significant resistance zone near $2.40, just shy of the critical 200-day moving average. However, it was swiftly rejected and fell back below the 100-day moving average, currently hovering around $2.20, and is now retracing towards the $2.00 support level. This region also aligns with the midpoint of the recent move, offering some short-term support.
Yet, momentum seems to be waning, as indicated by the RSI (Relative Strength Index) which is retreating from the overbought zone and is close to dropping below 50. A daily close beneath $2.00 might expose XRP to further declines, potentially targeting the significant low of $1.80. Conversely, reclaiming the 100-day moving average and closing above the $2.40 supply zone could pave the way toward the 200-day moving average and possibly even reach the pivotal $3 mark in the coming months.
XRP Price Chart
The BTC Pair
On the daily timeframe for the XRPBTC pair, Ripple’s token momentarily ascended above both the 100-day and 200-day moving averages, soaring from 2,100 sats to just under 2,600 sats before facing a notable rejection. The price is presently trading around 2,250 sats, dipping back below the 200-day moving average, which is around 2,400 sats. The 100-day moving average is currently acting as support at the 2,250 level.
As long as the zone between 2,200—2,250 sats holds, buyers maintain a chance to form a higher low structure. If this zone is lost, XRP could revert to the demand area at 2,000 sats. However, a bounce back and reclaim of the 2,400 sats level could initiate a new rally towards the 2,700—2,800 sats range once again. Until that transpire, XRP is likely to struggle and may underperform against BTC.
