XRP is encountering difficulties maintaining positions above critical support levels, casting doubt on its recent bullish momentum.
Current Market Situation of XRP
XRP struggles to hold its position above important support levels. Its recent bullish momentum is waning after a positive recovery from $1.95. The activation of the 200-day EMA did not lead to a successful breakout through the $2.20-$2.30 resistance zone, due to fresh selling pressure.
Prospects and Possible Scenarios
Although a breakout is still possible, the asset continues to consolidate under pressure. The psychological level at $3, once viewed as the next target, now appears distant due to declining market momentum. XRP needs to defend the $2.00 level in the coming days.
Technical Analysis and Key Levels
If XRP drops below the $1.95 support level, the asset may return to this crucial point that has served as a launchpad for brief rallies in the past. The $2.26-$2.28 range, corresponding to the 50-day EMA, must be reclaimed on the upside. The Relative Strength Index (RSI) indicates bearish bias, hovering around the 40-43 range.
The current XRP situation requires careful monitoring of key support and resistance levels. Further asset movement will likely depend on a breakout or breakdown from the current range.
