Traders are once again casting their eyes on XRP, the cross-border remittance token, after it showed resilience over the weekend. As of Monday, XRP had stabilized around the $2.00 mark, suggesting that buyers had stepped in to defend the key support level—reducing the likelihood of a deeper decline.
Technical indicators now point toward a potentially bullish scenario. The Moving Average Convergence Divergence (MACD) has begun to flash a buy signal, supported by green histograms that reinforce upward momentum. Still, cautious investors may prefer to wait for a confirmed MACD crossover above the midline before making significant moves.
Adding to the optimistic outlook, the Relative Strength Index (RSI) recently broke above a falling trendline. This signals growing bullish strength and a possible shift in market sentiment.
For traders eyeing a move to $3.00, several key levels come into play. Resistance is forming at the 50-day and 100-day Exponential Moving Averages (EMAs), currently around $2.22. A break above this range could pave the way for further gains. On the flip side, support remains solid at $2.00, while the 200-day EMA at $1.96 serves as a critical last line of defense.
Should XRP overcome resistance at $2.22, the path to $3.00 becomes significantly clearer, with fewer technical barriers in the way. However, a drop below $2.00 could accelerate losses, pulling the price toward the 200-day EMA—and potentially even lower to retest April’s low of $1.62. Such a move could trigger a wave of liquidations and profit-taking.
As market volatility lingers and macroeconomic narratives—from Bitcoin rebounds to political events like Trump vs. Powell—continue to drive sentiment, XRP’s next move could prove pivotal.
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