XRP Price Analysis: Search for Direction at Critical Levels

XRP faced renewed selling pressure in recent hours and fell below the $2.15 level. Currently, XRP is trying to hold at the $2.12 support, and it is at a critical stage to determine its direction. A break below this level could lead to the price declining to $2.05 with a new wave of selling.

The downward trend in Bitcoin and Ethereum continues to exert pressure on XRP. Therefore, the $2.20 resistance is vital for a short-term recovery.

Current Status of XRP

In recent hours, XRP tested the supports of $2.18 and $2.15 after sales from $2.22. During this process, the price pulled down to the $2.12 level, creating short-term anxiety among investors. However, with purchases from this area, a horizontal trend was formed.

According to TradingView data, the falling trend line at the $2.155 level was broken upwards on the hourly chart. This breakout can be interpreted as a recovery signal from a technical perspective. Still, the price is trading below both the $2.20 resistance and the 100-hour simple moving average.

What Does the Upward Scenario Say?

For an upward movement to start, the $2.18 resistance must first be exceeded, followed by a clear break of the $2.20 level. If closures above these levels occur, target levels of $2.2250 and $2.2540 can be aimed for XRP. The main target area stands out as between $2.30 and $2.35.

What Can Be Expected in a Downward Scenario?

If the bulls cannot exceed $2.20, renewed selling pressure may be observed. The first support point is $2.1420, followed by the critical threshold of $2.12. Closures below this level could pull the XRP price down to $2.05.

What Do Technical Indicators Say?

The MACD indicator is in the negative zone and giving weak signals.

The RSI is close to the 50 level and does not produce a clear signal in terms of direction.

Conclusion: Towards a Decision Point

In the short term, XRP investors need to carefully monitor the movement between the $2.20 resistance and the $2.12 support. These two levels stand out as the main benchmarks that will determine the direction in which the price will break.


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