XRP Surpasses Key Moving Average, Signals Long-Term Trend Shift
XRP has generated one of its most obvious bullish reversal signals this year. The asset surpassed the 200-day moving average and maintained it throughout a correction, indicating a robust technical framework. Despite an initial rally subsiding, XRP is currently trading around $1.39 after peaking at almost $1.70.
The sellers have struggled to push XRP below its long-term trend indicator, and the descending volume profile suggests bears are unlikely to create a foundation for a proper reversal downwards.
The 50-day and 100-day moving averages are around $1.14 and $1.21, respectively, while the 20-day EMA has risen to roughly $1.26. The breakout is starting to impact the broader trend, but momentum is cooling as the RSI dropped from overbought territory to about 65.
The immediate level to defend is $1.35, and if it holds, the focus returns to $1.45-$1.50. If that area is reclaimed, the recent highs would come back into focus, with $1.70 serving as the primary breakout target.