$XRP recovery journey hit a snag near $1.95, sparking concerns about sustained bullish momentum. Despite breaking past $1.88 and $1.90, it couldn't hold above $1.942, reaching an intraday high of $1.9578 before facing selling pressure.
Currently, XRP is trading above $1.90 and its 100-hourly simple moving average. A crucial declining channel or flag pattern is forming on the hourly chart with resistance at $1.940.
Key Technical Points:
Resistance: A strong break above $1.9550 could open the doors to $2.00, $2.050, $2.120, and $2.150.
Support: Failure to breach $1.9550 might lead to a decline, with initial support at $1.90. A breakdown below $1.8650 (50% Fibonacci retracement) could expose $1.8420, $1.80, and $1.7750.
Indicators: The hourly MACD shows a weakening bullish pace, and the RSI is near 50, signaling neutrality.
XRP is at a critical technical crossroads. Its next move will likely depend on whether it can overcome the $1.9550 resistance.
XRPUSDT
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1.9269
+1.41%
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865.08
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