XRP is currently trading at $1.9, a pivotal level, as the crypto market grapples with a 4.4% drop in the last 24 hours. Macro uncertainty, think US inflation data and Fed rate hike fears, is pressuring risk assets. Yet, XRP holds steady, buoyed by whispers of a Ripple partnership with a major European bank for cross-border payments and ETF speculation (unconfirmed).
Technical Analysis
Short-Term (Daily Chart):
Support: $1.90 (current), $1.80
Resistance: $2.00, $2.10
RSI sits at 48 (neutral), while MACD hints at bearish momentum. XRP’s testing the lower edge of a descending channel, holding $1.90 could trigger a bounce to $2.00, but a break below eyes $1.80.
Long-Term (Weekly Chart):
Support: $1.70, $1.50
Resistance: $2.50, $3.00
The 200-day MA is sloping down, signaling caution, but $1.70 is a solid base for bulls.
Potential Scenarios
Bullish: If $1.90 holds and $2.00 falls with strong volume, expect a push to $2.10 short-term, possibly $2.50 long-term if adoption news hits.
Bearish: A crack below $1.90 could test $1.80, with $1.70 next if selling ramps up.
Trading Tips and Context
XRP’s real-world use in payments and recent partnerships fuel long-term hope, but the SEC lawsuit looms as a risk. Short-term traders: trade the range between $1.90 support and $2.00 resistance, set stops tight (e.g., below $1.90 for longs). Long-term holders: $1.70 is your critical level. Keep an eye on SEC updates or ETF chatter for catalysts.
Technical Analysis
Short-Term (Daily Chart):
Support: $1.90 (current), $1.80
Resistance: $2.00, $2.10
RSI sits at 48 (neutral), while MACD hints at bearish momentum. XRP’s testing the lower edge of a descending channel, holding $1.90 could trigger a bounce to $2.00, but a break below eyes $1.80.
Long-Term (Weekly Chart):
Support: $1.70, $1.50
Resistance: $2.50, $3.00
The 200-day MA is sloping down, signaling caution, but $1.70 is a solid base for bulls.
Potential Scenarios
Bullish: If $1.90 holds and $2.00 falls with strong volume, expect a push to $2.10 short-term, possibly $2.50 long-term if adoption news hits.
Bearish: A crack below $1.90 could test $1.80, with $1.70 next if selling ramps up.
Trading Tips and Context
XRP’s real-world use in payments and recent partnerships fuel long-term hope, but the SEC lawsuit looms as a risk. Short-term traders: trade the range between $1.90 support and $2.00 resistance, set stops tight (e.g., below $1.90 for longs). Long-term holders: $1.70 is your critical level. Keep an eye on SEC updates or ETF chatter for catalysts.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.