After a strong rally last week, XRP’s upward momentum appears to be weakening. The price is currently hovering around $2.34, down from the recent high of $2.65. Investors are now watching closely to see whether key support levels will hold.
XRP Analysis: Technical Indicators Turn Bearish
The digital asset is currently testing a key support zone near the 50-day Exponential Moving Average (EMA) at $2.28. If this level fails to hold, the next line of defense lies at the 100-day EMA near $2.26. A deeper drop could push XRP toward the 200-day EMA around $2.04.
The Moving Average Convergence Divergence (MACD) has issued a clear sell signal on the daily chart. This indicates weakening bullish momentum and an increased risk of further downside. Meanwhile, the Relative Strength Index (RSI) is trending toward the neutral 50 level, further confirming the fading strength in the market.
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Despite the negative signals, there is still some hope for bulls. The SuperTrend indicator continues to flash a buy signal, even amid the recent decline. This tool, which measures market volatility using the Average True Range (ATR), can serve as a dynamic support level. As long as XRP trades above the green SuperTrend line, the uptrend could remain intact.
The coming days will be crucial. If XRP manages to stay above $2.28, a recovery could be in the cards. However, if the price breaks below this key level, a sharper correction may follow. Traders are advised to keep a close eye on market movements.
