XRP's price remains within a narrow range despite Bitcoin and Ethereum dominating recent market headlines. This article examines the current technical support and resistance levels for XRP.
Analysis of XRP/USDT Pair
On the daily chart, XRP/USDT is compressed within a long-term descending channel, bounded by a descending trendline and a horizontal support near $1.95. The current trading price is around $2.15, just under both the 100 and 200 moving averages. The RSI is close to 44, indicating a lack of momentum. If price breaks $1.95, the next demand zone is around $1.6. Resistance remains at the upper bound of the channel near $2.60.
Analysis of XRP/BTC Pair
Against Bitcoin, XRP has shown persistent weakness since March, marking sequential lower highs and lows. The chart highlights a large descending wedge as price moves toward the lower boundary of this pattern. Both the 100 and 200 moving averages are angled downward. The pair approaches an imbalance zone (FVG), which could attract price action below 1900 SAT. A rally from buyers could see the first resistance challenge near 2200 SAT.
Current Market Situation
The current market situation indicates that there are no significant changes for XRP, with a lack of strong bullish momentum. Both pairs (USDT and BTC) exhibit unclear structures. Each level of support and resistance could potentially determine future trader actions.
Currently, XRP faces key support and resistance levels, suggesting the possibility of significant movement in price. Traders should monitor these levels for more accurate predictions of the asset's future movements.
