XRP's Price Hits New Local Resistance Levels, Bullish Momentum Remains Uncertain

XRP's price has reached a critical technical point after hitting new local resistance levels that have consistently capped its recovery attempts throughout July.

The asset stabilized after its sharp decline in June, but the recent rejection indicates that bulls still face a tough battle to turn momentum in their favor.

Following its failure to break through the convergence of the 50-day and 100-day moving averages near $1.09-$1.10, XRP is currently trading around $1.08.

The current configuration is crucial for determining XRP's next direction, as these two indicators have emerged as the first significant resistance zone since the start of the larger correction.