XRP Price Holds Steady as Bulls Defend Key Support Level
XRP Price – XRP is showing remarkable resilience, echoing a pattern that Bitcoin followed prior to reaching its $100,000 milestone in 2024. Despite a persistently bearish MACD, XRP has managed to maintain support above $2 for over six months—suggesting strong bullish defense at this crucial level.
MACD Turns Bearish, but XRP Refuses to Fall
The Moving Average Convergence Divergence (MACD)—a key momentum indicator—has flashed bearish signals for months. Since flipping negative after XRP’s $3 peak in March, the MACD has consistently remained in bearish territory, with the histogram trending red through April and May.
Under normal circumstances, this setup would imply further downside. And indeed, XRP fell from $3 to $2 in early March. However, instead of collapsing further, XRP held its ground, bouncing back each time it briefly dipped below the $2 support level. This continued defense by the bulls indicates that selling pressure is being absorbed, often a precursor to a strong breakout.
Following Bitcoin’s 2024 Path to $100K?
This pattern draws clear parallels to Bitcoin’s 2024 behavior. When BTC’s MACD turned bearish in April 2024, it dropped to nearly $50,000, then found stable support around $53,550. The bearish MACD persisted until November, when a reversal—spurred partly by Trump-related optimism—sparked a rally that sent Bitcoin soaring to an ATH of $108,364 by December.
If XRP mirrors Bitcoin’s 101% post-consolidation rally, the token could target $4.02 in the short term. Given XRP’s higher volatility, a larger breakout is possible once bearish pressure fades.
Currently, XRP is trading at $2.09, up 3.83% this week, and continues to attract attention for its unshakable support—potentially setting the stage for its next major rally.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
