Usman Salis
After a strong rally earlier this month, XRP is now showing signs of consolidation. The recent correction has brought the price back to a key technical support zone, where traders are watching closely to determine the next move. With momentum indicators flashing mixed signals, the coming days could be critical for XRP’s short-term trajectory.
XRP Price Retests Key Technical Support Zone
XRP (XRP-USD) has seen a sharp pullback, currently trading at $3.1714, down 5.52% for the day. After reaching a high of $3.5521, the asset retraced to a low of $3.0699, aligning precisely with the 20-day EMA at $3.0106. This moving average now acts as immediate support, while the 10-day EMA at $3.2530 represents the next resistance to overcome.
The test of the 20-day EMA is often seen by traders as a healthy technical reset following a strong rally. If buyers step in at these levels, XRP may regain upward momentum and challenge the recent peak near $3.55.
Momentum Hinges on Break Above $3.25
To confirm a bullish continuation, XRP needs to push back above the 10-day EMA at $3.2530. A break and close above this level could open the door to another leg higher. Meanwhile, the 55-day EMA at $2.6061 and 200-day EMA at $2.2506 offer deeper support levels if the pullback continues.
With major developments such as potential ETF approvals and legal resolutions on the horizon, traders are positioning for volatility. Reclaiming key moving averages will be essential for XRP to maintain its bullish outlook.
Usman Salis
