XRP remains firm above the $2.38 support level after the recent pullback, suggesting that the bulls may still be in control. With buying pressure increasing, traders are closely watching for a potential breakout that could ignite bullish momentum in the coming sessions.
Early strength fades after reaching $2.52
Omair Crypto, in its latest market to updateHe noted that XRP showed initial strength after bouncing cleanly from the 50-day simple moving average (SMA). The price was able to rise to around $2.52 with a strong close on the 4-hour chart, indicating renewed buyer interest and a potential shift in momentum in the short term.
However, this early optimism was short-lived, as XRP’s bullish push lost steam before it even reached the 100-day simple moving average. The failure to expand higher is beginning to reveal some underlying weakness in the chart, as the bulls struggle to maintain momentum at higher levels.
Umair emphasized that the Relative Strength Index (RSI) trend line now plays a crucial role in determining the next trend. A confirmed break below this RSI trend line may trigger another lower low, effectively continuing the current local downtrend and reinforcing bearish sentiment in the market.
At the moment, the situation remains uncertain. XRP should remain firm above the $2.38 support level and maintain strength along the RSI trend line. However, failure to do so could expose XRP to deeper downside risks in the short term.
Momentum or stopping? The defining moment for XRP
Macro Vision Research Highlight XRP managed to stop its sharp decline within the lower Golden Pocket zone, between around $1.40 and $1.55, and rebounded as buying pressure resurfaced. In the short term, the company notes that XRP is now approaching a key resistance range between $2.48 and $2.65.
Failure to break above this area may lead to temporary consolidation as the market gains momentum for its next move. On the downside, the $1.96 level remains an important support area, as losing it could trigger bearish pressure to emerge once again.
From a bullish perspective, a decisive and sustained break above $2.65 could open the door for further gains towards $3.06. According to MakroVision Research, only a move beyond this level will confirm renewed upward strength and restore clear upward momentum across the broader trend.
In conclusion, the analyst emphasized that Golden Pocket’s precise XRP targeting and its rapid recovery show that buyers are still active and defending key areas. However, the next key test lies in whether the bulls are able to generate enough momentum to overcome the $2.65 resistance and pave the way for a broader rally.
The post XRP Bounce In Sight? Bulls Hold $2.38 Support As Breakout Pressure Builds first appeared on Investorempires.com.
