"If $1.3 breaks, it's over"...XRP, when will it reclaim the $2 mark?

▲ XRP/ChatGPT generated image

According to U.Today on May 20 (local time), XRP is facing a critical juncture that will determine its mid-to-long-term recovery structure by maintaining its current sideways movement before momentum completely dissipates. Trapped below a major resistance level for several weeks, XRP is currently trading around $1.37.

The price of XRP is fluctuating slightly above the key support level of $1.30. Repeated rejections are observed near the downward resistance trendline on the chart. However, XRP has maintained a compressed sideways structure, avoiding the sharp declines experienced by vulnerable altcoins in recent months.

This boxed-in trend can also serve as a foundation for a broader recovery movement. However, XRP remains below the downward-sloping 100-day and 200-day moving averages. This indicates that even if a short-term rebound occurs, the overall technical trend remains bearish.

Attempts to break through the $1.50 area have quickly failed each time, as sellers strongly defend the upper price range. The Relative Strength Index also largely remains neutral. This is interpreted as a situation of persistent market uncertainty rather than a lack of strong upward momentum.

For XRP to recover to the psychological resistance level of $2, three conditions must be met. First, the $1.30 support level must be continuously defended. If this level breaks, the current sideways structure will collapse, and XRP could face much deeper downward pressure.

Additionally, Bitcoin's price needs to stabilize, and XRP must reclaim the congested moving average zone between $1.40 and $1.50 with significant trading volume. If these conditions are met, XRP could aim for a $2 recovery with altcoin capital inflows, but if the support level collapses, the recovery path will become more difficult.

*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.*