XRP Price Analysis

The 100-day Exponential Moving Average (EMA) has provided support for XRP after a significant price correction, marking a turning point in the cryptocurrency’s recent decline. Since its recent highs above $3.00, XRP has lost more than 2% of its value in the last day, currently trading at $2.27.

A significant rising trendline has been broken by the asset, suggesting a possible change in the market structure. Historically, the 100 EMA has not been a solid basis for a reversal but rather a temporary level of support. Many assets, including XRP, frequently experience brief consolidations around this moving average before making their next major move. If buyers do not intervene, the likelihood of additional downside remains high due to ongoing selling pressure.

The next significant support is located near $1.72, where the 200 EMA currently resides. Bulls need to protect this level; a decline below it may initiate a prolonged bearish phase.

In a bullish scenario, XRP might attempt to reclaim the $2.50-$2.75 range if it stabilizes above the 100 EMA and experiences fresh buying interest. A break above $2.75 would restore bullish momentum and indicate a potential recovery.

On the other hand, if bears dominate and the 100 EMA fails to hold, XRP may drop to $1.72, where more solid support exists. A breakdown below this level could prolong losses toward $1.50.

Though XRP has reached its first significant support, history suggests this may just be a temporary halt before the market decides its next direction. Traders should watch for volume spikes and general market sentiment to anticipate XRP’s next move.