XRP Price Holds Steady at $1.30: Will Momentum Continue to Grow?
XRP is currently holding steady around $1.30, but the big question on everyone’s mind is whether momentum can start to build. The price needs to break through the $1.4550 resistance zone in order to see a fresh increase in the near future.
Right now, XRP is facing some challenges in moving above the $1.50 level. It’s trading below $1.450 and the 100-hourly Simple Moving Average. On the hourly chart of the XRP/USD pair from Kraken, there’s a key bearish trend line with resistance at $1.4550. If the pair can manage to break through that resistance, we might see some positive movement.
Recent price action saw XRP struggling to stay above $1.50, dipping below $1.30 at one point. It hit a low of $1.2828 before starting to recover, unlike Bitcoin and Ethereum. The price managed to break through some resistance levels around $1.3250 and $1.340, testing the 50% Fib retracement level.
On the upside, XRP might face resistance around $1.420 and $1.450, which is also the 61.8% Fib retracement level. If it can break through the $1.50 resistance, the next targets to watch for are $1.550, $1.600, and possibly even $1.620. Bears might start to show up if the price falls below $1.30, with major support around $1.2650.
If XRP can’t overcome the resistance at $1.4550, we might see a downside correction. Initial support levels are around $1.3200 and $1.30. A break below $1.30 could lead to a further decline towards $1.2800 and $1.2650.
So, keep an eye on those key resistance and support levels, and watch for any signs of momentum building in either direction. The next move for XRP will depend on how it interacts with these critical price levels.
