XRP Breaks Above $1.12 as ETF Optimism Builds

XRP has been trading in a narrow range, with bulls and bears waiting for confirmation of a breakout. The immediate support level is at $1.09, which has helped prevent further downside during recent pullbacks.

The next resistance level to break above is $1.12, and a daily close above this level would strengthen the bullish case and pave the way for a move toward the next resistance at $1.16.

Momentum indicators show that XRP has not yet committed to either a bullish or bearish trend. The 14-day Relative Strength Index (RSI) is currently at 49.43, which indicates balanced buying and selling pressure.

However, the higher-timeframe picture tells a different story. The weekly RSI is at 33.99, which places XRP in oversold territory. This often signals that downside momentum has weakened compared to previous weeks.