XRP Stabilizes At $2.00 Above Its Key Support Level

The price of Ripple (XRP) fell below the moving average lines on February 25 and reached the critical support level of $2.00.

XRP long term analysis: bearish

According to Coinidol.com, this is the sixth time that the bearish momentum has tested the current support level of $2.00. The cryptocurrency has encountered bearish fatigue as it stabilizes above $2.00. The bears have not been able to break the current support since December 9, 2024. 

Now, XRP will rise if the existing support holds. The altcoin will rise to its previous high of $3.40 if it breaks above the moving average lines. XRP will continue to fall until it reaches the low of $1.78.

XRP indicator analysis

The sideways movement is indicated by the horizontal moving average lines. The 21-day SMA, which is below the 50-day SMA, indicates a bearish trend. The Doji candlesticks slow down the price movement and are characteristic of the price action.

Technical indicators:  

Key Resistance Levels – $2.80 and $3.00

Key Support Levels – $1.80 and $1.60

What is the next direction for XRP?

The cryptocurrency is oscillating sideways between the support of $2.20 and the resistance of $2.80. The bulls were pushed back three times from the top of $2.80. XRP is falling towards the middle of the price range. Doji candlesticks were used to describe the price movement as it stayed within the range.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their research before investing in funds.