XRP Price Holds Steady at $1.30: Will Momentum Continue to Build?

XRP is currently stabilizing around the $1.30 mark, showing signs of consolidation in the market. To see a potential uptrend, the price needs to break above the resistance level at $1.4550.

Despite struggling to surpass the $1.50 mark, XRP has shown some positive movement by bouncing back from a low of $1.2828. The price has climbed above the $1.3250 and $1.340 levels, testing the 50% Fibonacci retracement level from its recent high to low. However, resistance is holding strong near the $1.420 zone.

Currently below $1.45 and the 100-hourly Simple Moving Average, XRP faces hurdles at $1.420 and $1.450, with the potential to reach $1.50. Breaking above this level could push the price toward $1.550, followed by resistance at $1.600 and $1.620. Further challenges lie at $1.650 and $1.6550 for bullish momentum.

In case the $1.4550 resistance remains unbroken, a downside correction may occur, finding initial support at $1.3200 and major support at $1.30. A close below $1.30 could lead to further declines toward $1.2800 and $1.2650 levels.

For technical traders, it’s essential to monitor these resistance and support levels closely to gauge the potential direction of XRP’s price in the near future. Stay tuned for updates as the market continues to evolve.