XRP Gives Back August Rally...Highs Lower, Key Support Line 'At Risk'

▲ XRP/AI-generated image

XRP is giving back its August surge and is testing its direction in the key support zone of $1.33-$1.36.

According to U.Today on September 11 (local time), XRP surged from around $1 in August, breaking above all major moving averages. It briefly soared to $1.70 but failed to maintain its upward momentum above $1.50. Since then, short-term highs have sequentially decreased to $1.45, $1.43, and $1.41.

The technical watershed is $1.33-$1.36. The long-term moving average is around $1.355, and the short-term moving average is at $1.337. With both support lines converging at similar price levels, holding this range has emerged as key to maintaining the August upward structure.

Upward momentum has also weakened significantly. The Relative Strength Index (RSI) has fallen to approximately 53.5, dropping below its signal average of about 60.8. It has not yet entered the oversold zone. U.Today analyzed that there is still a possibility of further declines before traditional technical indicators show exhaustion of selling pressure.

If the daily closing price falls below $1.33, the upward structure formed after the August breakout could significantly weaken. In this scenario, $1.24 emerges as the next downside target, with a major moving average at approximately $1.21 below it. Conversely, for buyers to regain control, $1.40-$1.42 must first be recovered.

If XRP breaks above $1.45, the recent highs of $1.52-$1.55 will again emerge as a resistance zone. In the short term, whether the $1.33-$1.36 support holds is a key criterion for determining further correction or a rebound.

[Key Article Summary]

-XRP surged from around $1 in August to $1.70, but its highs have been consistently decreasing since then.

-The $1.33-$1.36 range is a key support zone; a break below $1.33 could increase the possibility of a correction to $1.24.

-For a rebound, recovery of $1.40-$1.42 is paramount, and if $1.45 is broken, $1.52-$1.55 will be the next resistance level.

*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.*