XRP is facing pressure below key resistance levels, trading at $1.38 with weak short-term momentum. Analyst CRYPTOWZRD identified a critical support level at $1.43, noting a break below could target $1.34. The token’s trend remains weak below important moving averages, with technical indicators showing cautious investor sentiment.
XRP’s price fell by 3.54% over the last 24 hours, as it tests major support and resistance zones. At the time of writing, its 24-hour trading volume was $2.15 billion with a market capitalization of $85.21 billion.
Crypto analyst CRYPTOWZRD shared an update on the token’s daily technical outlook. He explained that token is testing a support level at $1.43. This could be a potential opportunity to go short if it goes below this level or to go long if it goes above this level.
The XRP/USD and XRP/BTC charts closed indecisively, with a minor fall noticed towards the end of the day. To witness a significant bullish run, XRP/BTC needs to rise above the daily resistance level.
Levels to watch will be resistance at $1.55 and support at $1.30. A daily breakout above the lower high trendline can result in a sharp rise, which can propel token to $2. The weekly market shift can cause sudden changes due to the Bitcoin market.
In shorter time frames, token was seen at around $1.43 in a choppy market. If it dips slightly below this price, it could fall further to $1.34, while a move above it could result in a test of the $1.54 resistance level.
Currently, XRP is trading at levels below its important moving averages. This shows that the trend is still weak. The Relative Strength Index is at 44.5, which is below the 50-level, showing weakening buy orders.
The MACD indicator shows a weak buy signal as the histogram is negative at -0.00599. Overall, XRP is still in a cautious zone, waiting for stronger buying activity to push the price higher.
