Technical analysts observe that XRP’s price has pulled back to approximately $1.44, mirroring broader market trends. According to analyst CRYPTOWZRD, a decisive move above a key $1.55 resistance level could trigger a rally toward $2, but current intraday action appears “choppy and slow.” The asset must hold above the $1.43 support area to maintain a potential upside trajectory.
XRP’s price retreated to about $1.44 this week, failing to capitalize on earlier momentum. This movement aligned with the broader cryptocurrency market’s behavior during the same period.
Popular technical analyst CRYPTOWZRD stated the altcoin might be poised for another upward move, pending certain conditions. He noted XRP closed a recent daily candle indecisively, while its weekly chart showed a gravestone doji pattern.
XRP is simply mirroring Bitcoin’s overall sentiment. The analyst wrote that XRP needs a more positive trend against Bitcoin. He emphasized that holding above its nearest resistance is required for a positive outcome.
A move above the $1.55 daily resistance could trigger a quick rally toward the $2 level. However, the analyst admitted that intraday price action currently looks “choppy and slow.”
The analyst believes XRP must hold above the current $1.43 support area for potential upside. He suggested a short-term bearish move below this support, followed by a bullish turn, could offer a better long opportunity toward $1.54 or higher.
Holding below $1.43 would offer opportunities for further decline and short positions. The market appears to be waiting for a mature trade opportunity before further action.
There might be some positive signs forming, as noted by another observer. Net buying activity in long positions is gradually increasing, which some interpret as a bullish signal.
While $XRP is moving sideway, net buying in long positions is gradually increasing. User CW stated this could mean the asset is quietly preparing for an upward movement.
