XRP is currently maintaining support above $2.38 following a recent pullback, signaling that bulls may still be in control. Traders are closely monitoring the market for signs of a breakout that could reignite bullish momentum in the near term.
Initial Bounce Meets Resistance
According to Umair Crypto, XRP showed initial strength after rebounding from the 50-day Simple Moving Average (SMA), climbing to approximately $2.52 with a solid 4-hour chart close. This indicated renewed buyer interest and a potential shift in short-term momentum.
However, XRP’s upward push stalled before reaching the 100-day SMA, revealing potential weakness. The failure to sustain momentum highlights that bulls are facing challenges in maintaining control at higher price levels.
“The Relative Strength Index (RSI) trendline now plays a crucial role,” Umair noted. A confirmed breakdown below this trendline could trigger another lower low, continuing the local downtrend and reinforcing bearish sentiment.
For now, XRP must hold above $2.38 and maintain strength along the RSI trendline to avoid deeper short-term downside.
Key Support and Resistance Zones
MakroVision Research observed that XRP successfully halted its steep decline within the lower Golden Pocket region (around $1.40–$1.55), recovering as buying pressure re-emerged.
- Resistance: $2.48–$2.65
- A failure to break this range could lead to temporary consolidation.
- Support: $1.96
- Losing this level could reintroduce downside pressure.
A decisive breakout above $2.65 would open the path toward $3.06, signaling renewed bullish momentum across the broader trend.
Analyst Takeaway
XRP’s precise targeting of the Golden Pocket and its swift recovery indicate that buyers are actively defending key zones. The next test lies in whether bulls can generate enough momentum to overcome $2.65 resistance, potentially setting the stage for a broader rally.