XRP price hovers at support — will the 100 simple moving average ignite a bullish rebound?
XRP price is currently experiencing a phase of consolidation after correcting its gains from the $2.30 area, settling now near a strong support level at $2.150. This level coincides with the 100-period simple moving average (SMA 100), making it a critical area that could witness a bullish rebound if the price holds above it.
Technical analysis shows that maintaining this support may drive buyers to regain control, opening the door for a new upward movement targeting the next resistance level at $2.25, followed by the $2.30 area again. On the other hand, a clear break below the $2.15 level could lead to a decline toward $2.08 or even $2.00 in the near term.
Momentum indicators like RSI indicate relative neutrality, reflecting a state of anticipation in the market. As investor interest in XRP grows along with developments in the regulatory issues surrounding it, the upcoming movement may carry a decisive tone for the price direction in the short term.
