XRP is trading at $1.38 after a 6.24% decline in the last 24 hours, placing it at a critical technical juncture following a rally that peaked near $1.70. The $1.40 price level is now the key battleground, determining whether a sustainable recovery or another correction phase will occur. Analyst ChartNerd noted that daily closes above $1.40 would favor the bulls short-term. The token’s market capitalization currently stands at $86.95 billion, with a 24-hour trading volume of $5.75 billion. Technical indicators, including the MACD and Bollinger Bands, remain positive, suggesting the uptrend’s underlying strength has not been lost despite the pullback. Support levels to watch are $1.36 and $1.28, while resistance sits at $1.45 and $1.54.
XRP is at an important technical juncture following a strong rally that gave way to a retracement. The $1.40 price level will determine whether a sustainable recovery or another round of correction will happen.
At the time of writing, XRP is trading at $1.38, with a 24-hour trading volume of $5.75 billion and a market capitalization of $86.95 billion. The token has declined 6.24% over the last 24 hours.
On August 26, crypto analyst ChartNerd expressed that the $1.70 price point has set up XRP for testing. According to his analysis, daily closes above $1.40 would favor the bulls short-term.
The $1.40 level is significant as XRP recovers from its latest rally. Holding $1.36 should allow for further recovery, but failing that sets the stage for $1.28.
Key resistance prices are seen at $1.45 and $1.54. Despite the latest downtrend, the daily technical pattern remains constructive.
The MACD line is at 0.10247, while the signal line is at 0.06085. The histogram remains in positive territory at 0.04163, indicating the uptrend’s strength has not been lost.
For bulls, XRP must defend $1.40, regain $1.45, and attempt to push above the $1.50 to $1.54 resistance range. For bears, multiple failures at $1.40 combined with a break of $1.36 would signal that sellers are digesting the previous strength.
