$XRP
XRP price is trading above $1.50 on Wednesday. Price remains embedded within a descending parallel channel from above $2.80, preserving a bearish medium-term structure, yet the latest bounce from the lower half of the channel tilts the near-term bias to a cautious bullish correction. XRP remains capped well below the upper channel boundary near $1.92, and trades beneath the 100-day EMA at $1.70, keeping the longer trend under pressure even as short-term momentum improves.
The RSI on the daily chart at 60 moves above its midline, showing strengthening bullish pressure against that backdrop. The MACD is above its signal line and in positive territory, with a modestly expanding histogram that suggests buyers are attempting to extend the recovery amid the broader downward structure.
Initial support emerges at the 50-day EMA near $1.50, ahead of the more important $1.30 horizontal floor that has contained prior downside and anchors the base of the current rebound. A break below $1.30 would expose the descending channel’s lower boundary near $1.10, where sellers would likely pause.
On the upside, immediate resistance stands at the 100-day EMA at $1.70. A daily close above that band would open the way toward the $1.90 horizontal resistance, which aligns with the upper portion of the channel and marks the key level that bulls must clear to challenge the dominant bearish pattern.