Daily News 19

Tag: XRP resistance levels

  • Experienced Analyst: “XRP Has Surpassed the Expected Level—Here’s the Next Target!”

    Experienced Analyst: “XRP Has Surpassed the Expected Level—Here’s the Next Target!”

    Crypto analyst Ali Martinez says XRP could target $1.70 in the short term after testing a critical support zone and breaking through resistance.

    According to Martinez’s analysis, XRP rallied approximately 71.8%, climbing from $0.988 to $1.698. The cryptocurrency then entered a correction of roughly 20%, falling back toward a key demand zone where trading activity was concentrated.

    XRP support zone at $1.35-$1.38

    Martinez highlighted on-chain cost distribution data similar to URPD (UTXO Realized Price Distribution). The data shows that approximately 3.2 billion XRP changed hands between $1.35 and $1.38, making this range one of the most important support zones for XRP, according to the analyst.

    If this support holds, Martinez identified the following resistance levels for XRP’s potential upward move:

    • $1.60: Approximately 1.99 billion XRP traded.
    • $1.68: Approximately 1.98 billion XRP traded.
    • $1.86: Approximately 3.47 billion XRP traded.

    Could XRP reach $2.19?

    Martinez believes a break above $1.86 could be particularly significant for XRP. A strong move through that level could open the way for a further rally toward $2.19, according to the analyst. Approximately 3.12 billion XRP previously changed hands around the $2.19 level.

    In a subsequent post, Martinez said XRP had broken through short-term resistance, adding that “the breakout has been confirmed.” He identified $1.70 as the next target in the current technical outlook.

    XRP was trading at approximately $1.41 at the time of writing, up about 1.37% over the previous 24 hours.

    This is not investment advice.

  • Expert Identifies Key XRP Price Levels to Watch

    Expert Identifies Key XRP Price Levels to Watch

    XRP is approaching a critical technical juncture after entering a 20% correction from its recent local high. On-chain data points to several key support and resistance levels that could determine the cryptocurrency’s next move.

    XRP support zone near $1.35

    According to market analyst Ali Martinez in an August 29 X post, XRP rallied 71.8% from $0.988 to $1.698 before pulling back to test a major demand zone between $1.35 and $1.38.

    Glassnode’s UTXO Realized Price Distribution (URPD) data shows that approximately 3.2 billion XRP were previously traded within this range, making it one of the asset’s most significant support areas.

    The concentration of trading activity suggests that many holders accumulated XRP in this zone, potentially creating strong buying interest if the cryptocurrency remains above the support region.

    Key XRP resistance levels

    The URPD data also identifies several major resistance levels above the current price. The first notable barrier is at $1.60, where approximately 1.99 billion XRP were traded.

    XRP price analysis chart. Source: Glassnode

    Another resistance level is located at $1.68, supported by about 1.98 billion XRP in historical trading volume.

    The most significant resistance appears at $1.86, where approximately 3.47 billion XRP previously changed hands. This represents the largest concentration of trading activity above the current support zone and could become a major hurdle for bulls attempting to regain momentum.

    If XRP successfully defends the $1.35-$1.38 support region and reclaims the higher resistance levels, a move above $1.86 could open the door to further gains. Beyond that level, Martinez identified $2.19 as the next major target, where another 3.12 billion XRP were traded, according to URPD data.

    XRP price outlook

    A sustained breakout above $1.86 would indicate that buyers had absorbed a significant amount of overhead supply, increasing the likelihood of a rally toward the $2.19 area.

    At press time, XRP was trading at $1.39, down nearly 6% over the past week.

    XRP seven-day price chart. Source: Finbold

    Despite the recent correction, XRP remains technically bullish, trading above its 50-day simple moving average (SMA) at $1.13 and its 200-day SMA at $1.28. This positioning suggests that the broader uptrend remains intact, with both moving averages potentially acting as support during pullbacks.

    Meanwhile, the 14-day relative strength index (RSI) stood at 64.75, just below the overbought threshold of 70. The reading points to strong buying momentum while suggesting that XRP may be approaching a zone where short-term upside could become more limited if buying pressure accelerates further.

    Featured image via Shutterstock

  • Veteran Trader Predicts XRP Could Be Forming a Major Price Bottom

    Veteran Trader Predicts XRP Could Be Forming a Major Price Bottom

    $XRP price is testing a critical support zone near $1.40 after giving back roughly half of its recent gains. The token rose 71.8% from $0.988 to $1.698 before entering a 20% correction. Veteran analyst Matthew Dixon believes the decline may have created a potential major bottom, but says confirmation is still needed.

    $XRP Chart Signals a Possible Major Bottom

    Crypto analyst and veteran financial trader Matthew Dixon said the $XRP chart has become more constructive, although he does not yet view the move as a confirmed new bull trend.

    Dixon said,

    “$XRP, the chart has become substantially more constructive, but I would call it a potential major bottom rather than a confirmed new bull trend.”

    Dixon believes the decline from approximately $3.65 may have completed an A-B-C correction. He also highlighted $XRP’s move into the $1.00 support zone and its strong weekly rebound as signs that selling pressure may be easing.

    For the bullish setup to strengthen, $XRP must hold above the $1.20-$1.30 range before breaking above $1.70. A move past $2.00 would provide stronger evidence that the broader uptrend has resumed.

    However, Dixon warned that the recent recovery may only be an oversold bounce. If $XRP fails to clear the $1.55-$1.70 resistance area and turns lower, the token could retest $0.94.

    3.2 Billion $XRP Establish Key Support at $1.35

    On-chain data from crypto analyst Ali Martinez also supports the outlook for a strong demand zone. Martinez noted that approximately 3.2 billion $XRP were traded between $1.35 and $1.38, making this range an important support area.

    As long as the support holds, $XRP could next encounter resistance at $1.60, where roughly 1.99 billion $XRP were traded.

    The next resistance levels are $1.68, supported by trading volume of 1.98 billion $XRP, and $1.86, where approximately 3.47 billion $XRP changed hands.

    A break above $1.86 could clear the way toward $2.19, a level where another 3.12 billion $XRP were previously traded.

    $XRP Faces Downside Risk Below $0.94

    If buyers fail to defend the current support zone, $XRP could face additional selling pressure. Dixon also warned that a weekly close below $0.94 could weaken the bullish setup and push the price toward $0.75, followed by the $0.55-$0.60 range.

    For now, $XRP is trading between support at $1.35-$1.38 and resistance at $1.70-$1.86. A decisive break above or below these levels could determine the token’s next major move.