XRP Price Rejected by 50-Week EMA, Support Levels Come into Focus

XRP's recent price recovery has been met with caution after the token was rejected by its 50-week exponential moving average (EMA), currently sitting at around $1.54.

According to ChartNerdTA, a chart analyst who flagged this key level, XRP's weekly close below the 50-week EMA near $1.54 signals potential continued weakness in the coming weeks.

XRP had climbed from below $1 earlier this month to briefly reach around $1.70 before retreating, making the $1.54 region an important test for buyers attempting to preserve the recovery.

ChartNerdTA's chart places the $1.30-$1.29 region among the first major mid-term support zones, with a sustained decline below this area potentially bringing lower levels into focus, including the $1.18-$1.10 range and the $1.00-$0.98 area.