XRP’s price is somewhat stuck between 50 and 100-day moving averages, which creates a tight range in which both bulls and bears are trying to establish dominance. The momentum for now is certainly not decisive. The breakthrough above or below one of those levels will be the key factor in determining the future direction of the asset.
Strong resistance is located close to the 50 EMA, which is currently at $2.71, and XRP is currently trading around $2.50. A break above this mark would indicate bullish strength and could trigger a move toward $3.00 and higher. Although XRP has had difficulty breaking through this barrier in the past, a trend reversal might be verified if it does.
The 100 EMA is serving as crucial support on the downside and is situated at about $2.30. If XRP is unable to maintain this level, selling pressure may increase and push the price down to a crucial psychological level of $2.00 or even $1.82. XRP needs a significant spike in buying volume to move above $2.71 and turn the 50 EMA into support in order to exit its current range.
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A daily close above this mark would probably attract more buyers and pave the way for a long-term upward trend. However, bearish momentum might take over and cause a deeper correction if XRP breaks below $2.30 after losing the 100 EMA. In this situation, traders should exercise caution because the asset may return to lower support levels before showing any indications of a recovery.
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At this critical point, two EMA’s are serving as significant obstacles for XRP. Although a decline below $2.30 might lead to additional downside, a move above $2.71 would pave the way for a bullish breakout. In the upcoming weeks, XRP’s direction will probably be determined by the next significant price action, so traders should keep a close eye on these levels.
Source: https://u.today/xrp-stuck-two-levels-hold-asset-hostage