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Ripple Price Analysis: XRP Must Maintain This Level to Avoid a Major Correction
Ripple’s native token has extended its bullish momentum in alignment with Bitcoin’s continued strength, sustaining a well-defined uptrend against both USDT and BTC. However, recent price behavior suggests that the market might be temporarily pausing for a correction or consolidation, as signs of exhaustion begin to emerge across both pairs.
By ShayanMarkets
The USDT Pair
XRP recently broke above the psychological resistance level at $3.00, following a powerful rally that began at the start of July. The 100-day (blue) and 200-day (orange) moving averages, which are now sloping upward and making a bullish crossover around $2.50, provided the foundation for this move. The market structure has also clearly shifted bullish, as the yellow curved arrow shows. Currently, the price is hovering above the key $3.00 support zone.
The rejection from the $3.40, combined with the RSI falling back below the overbought threshold (now around 59), suggests waning short-term momentum. As long as this level holds, buyers may find a platform to resume the uptrend. A break below this level, however, could send the price toward the $2.50 region, where the converging moving averages would likely act as vital dynamic support.
The BTC Pair
The XRP/BTC chart reflects a similar trend, with the price surging from early July and breaking above both the 100-day and 200-day moving averages, both positioned around the 2,400 SAT level. This bullish move was met with resistance at 3,000 SAT, where the rally temporarily stalled. Currently, the market is retesting a bullish fair value gap near the 2,700 SAT mark.
If this zone provides support, it could serve as a launchpad for another attempt at the 3,200 SAT resistance, with potential for a breakout. Conversely, failure to hold the FVG could open the door to a deeper correction, with downside targets around 2,400 SAT or possibly the key 2,000 SAT support level.
As XRP approaches this critical zone, it is essential that it maintains this level to avoid a major correction.
Source: cryptopotato.com
