XRP's Price Recovery Hinges on Clearing Key Resistance

XRP's price has recovered after finding support at key technical levels, but uncertainty remains among traders. The token is currently trading near $1.30, holding above its 50-day and 100-day exponential moving averages (EMAs) at $1.284 and $1.255.

A daily close above the 200-day EMA at $1.353 could strengthen XRP's recovery and potentially lead to a price target of $1.90.

However, conflicting signals from funding rates, long-to-short positioning, and on-chain indicators suggest that traders are uncertain about the token's prospects.

XRP's funding rate turned negative at -0.0040% on Thursday, indicating bearish positioning has become more aggressive, despite a bullish long-to-short ratio of 1.06.