XRP Tests Key Support Level as Analysts Weigh in on Next Move

XRP is facing fresh selling pressure after its recent recovery lost momentum. The cryptocurrency is now testing an important support level at $1.35, which will determine whether the uptrend remains intact.

At press time, XRP is trading around $1.40, down 3.35% over the past 24 hours. Despite the pullback, it remains up about 33.5% over the past month after trading below $1.

Analyst CasiTrades has a more cautious view of XRP, expecting it to fall toward the $1.10 region because the reaction there will provide clues about its longer-term trend. A strong defense of $1.10 would support a new bullish move, while a break below $1.10 would increase the risk of a deeper decline.

Meanwhile, analyst ChartNerd has a more positive but still cautious view, noting that XRP remains inside a large weekly range after reaching $1.70. The price is currently below the 50-week EMA at around $1.53 but above the 20-week EMA near $1.28.