Hesitating Despite Average 23% Rise in May... XRP, Direction Splits Ahead of $1.5

▲ XRP/ChatGPT generated image

Ahead of May, XRP has entered a critical zone where historical bullish patterns clash with strong resistance levels.

U.Today reported on May 2 (local time) that while XRP has historically recorded an average rise of about 23% in May, there is a possibility that the same trend may not be replicated in the current market structure.

According to the report, XRP has been moving within a range between $1.30 and $1.45 for the past few months, failing to establish a clear direction. This range is considered a key area where buying and selling are balanced.

In the market, the $1.50 level is identified as the most crucial resistance. This price point is both a psychological benchmark and a major breakout point in terms of technical structure. Analysis suggests that if this level is not surpassed, the upward trend could be limited.

Conversely, if $1.50 is clearly broken, the structure could change, opening a path for an upward move to the $1.65 to $1.70 range.

On the downside, the $1.30 level is mentioned as a key support. If this level breaks, a downward path to $1.28, and then to $1.20, could open up.

In terms of trading volume, strong inflows sufficient to confirm an upward move have not been observed. While the price is being maintained, buying strength is insufficient, leading to a repeated pattern where breakout attempts are met with resistance.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*