XRP has staged a strong comeback, breaking above the 50, 100, and 200 Exponential Moving Averages (EMAs). This breakthrough forms a robust support at $0.50, providing a solid base for future upward momentum. XRP’s shift in market structure signals a potential for sustained recovery.
Currently trading near $0.56, XRP is positioned for further gains but could briefly retrace as it faces significant resistance levels. Both the $0.58 and $0.60 levels act as technical and psychological barriers. If XRP surpasses $0.60, this could strengthen its bullish momentum and open doors to test the next resistance around $0.65.
Source: CoinMarketCap
Support and Resistance Levels to Watch
The recently regained $0.50 level now plays a crucial role on the support side for XRP. Holding above this line suggests stability and reflects bulls’ commitment to defending recent gains.
Related article: XRP Whales Make Waves: Massive $814M Moved Across Major Exchanges
Should XRP dip below $0.50, it may find support around the 100 EMA near $0.54, which can serve as a buffer in case of minor corrections. The bullish trend is confirmed by volume analysis, indicating significant buying interest, which reinforces XRP’s current strength.
Market Indicators Point to Caution Amid Bullish Sentiment
While bullish sentiment prevails, the Relative Strength Index (RSI) is approaching overbought territory, signaling potential short-term caution. Despite this, XRP remains in a favorable position to keep advancing, especially if it clears the key resistance levels mentioned.
Related article: Ripple’s 470 Million XRP Transfer Sparks Market Speculation
Holding above these levels could indicate further medium-term gains, so investors should monitor them closely. Given overall market volatility, consolidating near current levels before attempting another rally would be wise. XRP’s recent breakout above key moving averages highlights a significant bullish shift.
With $0.50 firmly established as support, XRP could extend its gains if it overcomes current resistance areas. For now, XRP’s resilience and recent surge suggest a promising outlook for potential medium-term growth.
