XRP Price: Key Levels to Watch After Major Rebound
XRP Price– XRP surprised the market by bouncing back sharply after falling below the key psychological level of $2.00. This sudden recovery challenges the earlier bearish outlook and signals a potential shift in momentum. Over the past 24 hours, XRP’s price climbed nearly 10%, reclaiming the $2.10 mark and approaching a cluster of short-term resistance levels.
Technical Indicators Support Bullish Momentum
The recovery is supported by solid trading volumes and a rising Relative Strength Index (RSI), currently at 49, indicating renewed buying interest among investors. According to the analysis, “the invalidation of the descending wedge pattern in which XRP had been trapped for weeks is the most significant technical change at this point.” This pattern, previously bearish, has now reversed as XRP broke out of the wedge to the upside.
Potential Targets if Momentum Continues
If XRP sustains this upward move, the next key technical target is the 50-day Exponential Moving Average (EMA) at $2.23. Maintaining momentum and closing decisively above the 26-day EMA could pave the way toward higher resistance levels. The following hurdle is at $2.50, and if market conditions remain favorable, a push toward $3.00 could be possible.
This recovery marks a notable turnaround for XRP, transforming a previously negative technical setup into a potentially bullish trend. Provided that buying pressure persists and key moving averages hold, XRP may be on track to retest this year’s highs. As one expert noted, this rebound “could develop into a full-fledged breakout pushing XRP toward a retest of this year’s highs.”
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.
