XRP has registered its first notable gain in weeks, with the price rebounding from near $1.25 to trade close to $1.31. This marks a shift after a prolonged decline during October, as buyers s
XRP has registered its first notable gain in weeks, with the price rebounding from near $1.25 to trade close to $1.31. This marks a shift after a prolonged decline during October, as buyers showed renewed interest for the first time since September.
Throughout much of October, XRP faced steady selling pressure, falling from $1.55 to a low near $1.25. Attempts by buyers to lift the price were previously met with quick sell-offs, resulting in a persistent pattern of lower highs and a dominance of red candles on price charts.
The $1.25 to $1.30 region has emerged as a support zone. XRP’s recent session saw the token touch this area before swiftly bouncing away, printing an extended lower wick on the daily candle. This price action suggests that buyers stepped in to absorb the selling pressure, preventing further declines. Analysts have noted that the same support zone sparked a strong rally to $1.65 in September.
XRP quickly reversed from its support area near $1.25, with the extended lower wick signaling renewed buyer strength at this critical zone.
With this bounce, XRP now faces its first resistance test. The orange moving average, which is widely monitored by technical traders, stands close to $1.33 and sits just above the current price. A close above this moving average would lend credibility to the current rebound, potentially encouraging additional buyers to enter the market.
Above $1.33, further resistance is clustered between $1.37 and $1.38, where blue and black moving averages converge. This range, which previously failed to provide lasting support during the latest drop, now serves as a critical threshold for bulls aiming to extend the upward move.
Level Status $1.25 – $1.30 Support $1.33 First resistance (orange MA) $1.37 – $1.38 Major resistance (multiple MAs) $1.45 Higher target if momentum continues $1.20 Potential new low if support breaksThe Relative Strength Index (RSI) holds close to the 40 mark, a level generally considered weak yet not oversold. This indicates that XRP’s bounce is not occurring from extreme market conditions and could still develop if buyers sustain their momentum. However, trading volume remains subdued. Market watchers have pointed out that higher volume on bullish sessions would add confidence to the prospects of a stronger recovery.
A daily close above $1.33 stands as the primary target for bullish traders. Surpassing this level could open the way toward $1.38 and then $1.45, potentially shifting the broader trend. Failure to maintain support above $1.25 could see the price test $1.20 or lower in the short term.
Currently, XRP’s overall trend remains downward, but this fresh move represents the first bullish signal seen in several weeks. Upcoming daily price action is likely to determine whether this marks the start of a meaningful reversal or a brief pause before another possible decline.
After weeks of losses, XRP’s latest daily candle points to a possible shift, but traders are closely watching upcoming sessions to see if this signals a true recovery.
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