XRP Analysts Eye Key Levels as Price Struggles to Recover

XRP's recent price movement has caught the attention of analysts, who are watching for signs that the cryptocurrency is turning higher. The current price of $1.37 represents a 3% drop in the past 24 hours, according to CoinMarketCap.

ChartNerd believes XRP needs to reclaim two key levels: $1.48 and $1.55, which represent the 20-month exponential moving average (EMA) and the 50-week EMA, respectively. If XRP can move above these levels and hold them as support, it could be a positive sign for the price.

ChartNerd's long-term chart shows that XRP has previously moved above the 20-month EMA before making major price gains. The analyst also notes that since XRP moved above $1.39, the crypto has broken above several previous highs and may now be making higher lows, which could indicate a weakening downtrend.

Cryptoinsightuk agrees with ChartNerd's analysis, stating that breaking above $1.48 would be a positive sign for XRP's trend. If XRP reaches this level, the next target would be around $1.58, followed by $1.70-$1.85 if the price continues to rise.