XRP ($2.30)’s sharp correction has slowed down at the 100-day Exponential Moving Average (EMA), signaling a crucial moment for the asset. After reaching highs above $3.00, XRP lost over 2% in the last 24 hours, bringing its price down to $2.27.
Market Structure Signals Potential Shift
A critical rising trendline has broken, hinting at a possible shift in market dynamics. Historically, the 100 EMA has not provided a strong foundation for a sustained reversal but has instead acted as a temporary support level.
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Many cryptocurrencies, including XRP, tend to consolidate around this level before making a decisive move. If buying pressure does not increase, the chances of further declines remain high due to persistent selling pressure.
Key Support Levels to Watch
If XRP fails to hold above the 100 EMA, the next major support stands near $1.72, where the 200 EMA is currently positioned. Bulls must defend this level, as a drop below it could trigger an extended bearish trend.
24-hour price chart. Source: CoinMarketCap
For a bullish recovery, XRP must stabilize above the 100 EMA and attract renewed buying interest. If that happens, the asset could attempt to reclaim the $2.50-$2.75 range. A breakout above $2.75 would indicate regained bullish momentum and open the door for further upside.
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However, if bears take control and XRP fails to hold at the 100 EMA, the price could retreat further to $1.72, where stronger support exists. A breakdown below this level might lead to deeper losses, possibly extending toward $1.50.
Although XRP has reached a critical support level, past trends suggest this pause could be temporary. Traders should monitor market sentiment and volume spikes to gauge the asset’s next move.
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