On May 31, 2026, XRP traded just below $1.336 on the Bitstamp exchange, drawing attention from analysts to the rising channel support at $1.34. Market watchers maintaining a bullish perspecti
On May 31, 2026, XRP traded just below $1.336 on the Bitstamp exchange, drawing attention from analysts to the rising channel support at $1.34. Market watchers maintaining a bullish perspective say that if this key level is preserved, short-term targets of $1.37 and $1.40 have come into focus.
Recent charts published on major crypto analysis platforms confirm that XRP has been hovering around the $1.34 band. This level is recognized as the lower boundary of an ascending price channel. In a statement on social media, analyst Ali Charts specifically highlighted the $1.34 floor, suggesting buyers could find a favorable opportunity in this area.
Ali Charts evaluated $1.34 as a potential buying zone, noting that if this support holds, the next short-term targets would be $1.37 and $1.40.
If XRP closes below this level, analysts say the bullish outlook could weaken and there is an increased likelihood of a pullback to $1.30.
Technical analysis on TradingView indicates that XRP is moving below the Fibonacci resistance near $1.4655. Fibonacci retracement levels are technical tools used to identify potential reversal or resistance points in price movements.
Glossary: Fibonacci retracement levels are a technical analysis tool used by investors to pinpoint potential support or resistance by predicting price pullbacks at specific ratios, serving as a key guide in volatile markets.
In addition to $1.4655, XRP has also remained below the 0.786 Fibonacci level. Signs of declining demand have emerged, positioning $1.30 and the lower supports at $1.25 and $1.20 as new areas to watch. If price falls under $1.30, analysts caution that selling pressure could accelerate further.
A stronger recovery is now pegged to a decisive move above $1.4655, which would open the way toward resistance levels at $1.8461, $2.1449, and $2.3548.
Technical indicators suggest that XRP has yet to provide a clear buying signal to investors. On the daily chart, the MACD indicator has held its bearish tone, with the MACD line still sitting below its signal line, reflecting ongoing negative sentiment in the market.
Analysts report that consistently negative histogram values mirror the dominance of sellers. Meanwhile, RSI registers at 42.87, still beneath the neutral mark of 50. This reading indicates that while XRP is not oversold, short-term momentum currently favors sellers.
In summary, analysts are closely monitoring the $1.34, $1.37, and $1.40 levels, emphasizing that daily closing prices will play a decisive role in shaping XRP’s price trend.
LevelStatus$1.34Channel support$1.37 – $1.40Short-term targets$1.4655Fibonacci resistance$1.30Support$1.8461 – $2.3548Mid-long term resistanceThe post XRP holds above $1.33 with eyes set on $1.40 appeared first on COINTURK NEWS.
