XRP Correction Tests Key Support Level After Failing to Hold Above EMA

XRP has been on a wild ride recently, surging by 71.8% to a high of $1.698 before plummeting 20% in a correction.

The token's price is currently testing support levels around $1.35-$1.38, with roughly 3.2 billion XRP traded in this zone according to data from URPD.

Analyst Ali Martinez notes that XRP failed to hold above the 50-week exponential moving average at $1.54, shifting attention to this key support area.

If buyers regain control, initial resistance areas could be found around $1.60 and $1.68, with larger barriers at $1.86 and $2.00-$2.19.