$XRP 🚨Technical Analysis: Levels to Watch🚨
XRP fell 0.25% on Saturday, January 24, following the previous day’s 0.19% loss, closing at $1.9136. The token tracked the broader crypto market cap trend, which dropped 0.32%.
The losses left XRP trading below its 50-day and 200-day EMAs, signaling a bearish bias. However, the bullish fundamentals continue to offset bearish technicals, reaffirming the positive outlook.
Key technical levels to watch include:
Support levels: $1.85, $1.75, and then $1.50.
50-day EMA resistance: $2.0367.
200-day EMA resistance: $2.2917.
Resistance levels: $2.0, $2.5, $3.0, and $3.66.
On the daily chart, a breakout above $2.0 would enable the bulls to target the 50-day EMA. Significantly, a sustained move through the 50-day EMA would indicate a near-term bullish trend reversal. A bullish trend reversal would bring $2.2 into play. A break above $2.2 would open the door to testing the 200-day EMA.
Importantly, a sustained move through the EMAs would reaffirm the bullish medium- and longer-term price targets.
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