XRP's price is stuck between the 50 and 100-day moving averages. Breaking above or below one of these levels will likely be the key factor in determining the asset's future price direction.
XRP Price Technical Analysis
Currently, XRP is trading under pressure near the 50-day EMA at approximately $2.71, with its trading price hovering around $2.50. The momentum is not decisive, but a break above this mark may indicate bullish strength, potentially pushing the price towards $3.00 and higher.
Support and Resistance Levels
The main support is at the 100-day EMA around $2.30. Losing this level could increase the selling pressure and push the price down to $2.00 or even $1.82. A significant spike in buying volume is needed to break through the $2.71 level.
What to Expect in the Near Future
A daily close above $2.71 might attract more buyers and signal the beginning of a long-term upward trend. However, losing the $2.30 level could lead to a deeper correction if bearish momentum prevails.
In the coming weeks, XRP's direction is likely to be influenced by the next significant price action. Traders should keep a close eye on these key levels.
