XRP strengthens, holding above a key moving average despite broader market fluctuations. This steady positioning suggests that bullish momentum is still in play, with buyers actively defending critical price levels. Maintaining these levels is crucial, as it often serves as a foundation for continued upside movement and increased investor confidence.
The ability to trade above this technical indicator indicates underlying demand, preventing deeper corrections and keeping XRP within a favorable range. If bulls sustain control, the altcoin could build enough pressure to challenge higher resistance zones, setting the stage for a breakout. However, a slip below this level signals a market shift, triggering renewed bearish pressure and testing lower support levels.
Strength Or Weakness? Assessing XRP’s Position Above Moving Average
XRP’s ability to hold above a key moving average is a key indicator of market sentiment. This level usually acts as dynamic support, and its preservation suggests that bulls are still in control, preventing a deeper retracement. The fact that the token remains above this threshold reflects underlying strength, as buyers continue to defend critical price levels.
Expanding on this analysis, the Relative Strength Index (RSI) is essential in assessing XRP’s momentum. While hovering near the 50% threshold, the RSI attempts to break above this key level, which might strengthen bullish movements. A successful move beyond this point is a sign of growing buying pressure, reinforcing the potential for more growth.
Furthermore, pushing above the moving average and the RSI rising toward overbought levels, tend to validate a stronger uptrend and set the stage for further gains. Conversely, if XRP fails to hold above support and the RSI begins to decline, sellers may regain control, pushing prices lower.
Potential Upside Targets For The Altcoin
With key support levels and bullish momentum building, XRP eyes gain in the short term. Should buying pressure continue to grow, the next significant resistance zone to watch is the $2.9 mark, where previous rejections have occurred. A decisive breakout above this area would confirm a stronger uptrend, setting the stage for a rally toward $3.4 and beyond.
However, a drop below the 100-day SMA, coupled with a declining RSI points to a weakening upward move, increasing the likelihood of a decline toward the $2.2 support level. Breaking below this zone would further reinforce bearish control, potentially exposing XRP to deeper losses.
In the meantime, holding above key moving averages and sustaining higher lows will be essential for maintaining a positive outlook. Nonetheless, as long as bullish momentum remains intact, XRP has the potential to climb toward these upside targets in the near term.
