XRP is trading around $1.10, showing modest gains of 1.46% in the past 24 hours, while daily volume hits almost $882 million. Market capitalization stands at $68.85 billion.
Despite attempts by buyers, XRP faces stiff resistance below the daily 50 EMA at $1.14, a level that has capped price advances for several weeks.
Breaking above $1.14 won’t be the end of the challenge. The next barrier is near $1.25, and a much tougher one awaits at the weekly 50 EMA around $1.60, which traders view as key to confirming a stable long-term bottom.
Crypto analyst ChartNerd emphasizes focusing on the bigger market structure rather than short-term price swings, as the broader trend still needs to be established.
Technical indicators reflect a balanced market: the RSI hovers near 48, indicating neither buyers nor sellers dominate. The MACD is slightly negative but shows early signs of waning selling pressure, though a bullish crossover is yet to appear.
This tension suggests XRP could remain range-bound until stronger buying activity pushes it past these resistance levels.
Market sentiment will play a big role in XRP's next move. Gains in Bitcoin and the overall crypto market usually lift large-cap coins like XRP. Conversely, bearish sentiment can trap XRP under critical technical zones.
Investors are also keeping an eye on developments around the XRP ledger ecosystem, including adoption by institutions and regulatory progress.
