XRP is establishing stability over an important support area; overall, the technical indicators show possible upside continuation as indicated by the technical indicators.
It is the largest and most liquid alternative to Bitcoin in terms of trade volume, but it remains able to participate in overall cryptocurrency trends as compared to other cryptocurrencies that trade independently of each other.
Chart Signals Strength Building
According to TradingView data, XRP has consolidated over the last month at approximately $1.42 after falling from approximately $1.60-1.70 at the previous month’s close. Essentially, this means that $1.40 is immediate support and $1.65 is the first major resistance level above $1.40.
The RSI is currently just below 45 (40-45) which means selling pressure has started to slow. Additionally, volume has decreased sharply and appears stable at this point. Bears likely will soon start losing their momentum. If it breaks above $1.65, the price is technically poised to rise towards the $1.90-$2.00 range.
Also Read: XRP Consolidates in Key Range, Bulls Target $1.60 Next
Analyst Highlights Key XRP Support Zone
In a recent tweet from crypto analyst Ali Charts, he identifies that possible long-term support for the coin is being formed by a trendline between a series of higher lows between $0.60 and $0.90 over a monthly timeframe.
A long-term outlook indicates the continued establishment of longer-term structural support for its market, on higher time frames vs shorter time frames (more volatility), which also resulted in establishing.
In conclusion, XRP looks like it is creating a near-term support base above $1.40; a break above $1.65 could put the bulls directly back in control of momentum, as long as support continues to hold overall bullish structure intact.
If buying pressure continues to build alongside improving RSI momentum, XRP could gradually regain strength and attempt a broader recovery toward the $2.00 psychological level in the sessions ahead.
Also Read: XRP Sets Up for Explosive 900% Move Amid Improving Momentum