XRP Price Breaks Key Resistance Levels

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

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Price Recovery: XRP has rebounded above $1.10 after a period of pressure in June, indicating strong buying momentum that suggests improving market sentiment and potential for increased investor interest.
Technical Analysis Signals: Analyst Dark Defender noted that XRP has broken its initial daily resistance and entered Wave 5 of the Elliott Wave structure, which is expected to drive a significant price advance, further boosting market confidence in XRP.
Resistance Levels and Targets: According to Elliott Wave theory, XRP's next targets are between $1.17 and $1.23, with the current price approaching the 200% extension at $1.1703, and a breakout could trigger a larger upward movement.
Technical Indicators Support: The Relative Strength Index (RSI) has risen to 53, indicating an improving technical picture, while the moving average remains near 38, suggesting that XRP is gradually recovering from historic oversold conditions, with market attention on its ability to maintain the breakout.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.859	0.941	1.022	1.103	1.184	1.265	1.346
Fibonacci	0.941	1.003	1.041	1.103	1.165	1.203	1.265

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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