XRP Defends August Surge... Must Break 'Here' for Further Gains

▲ XRP

XRP has entered a consolidation phase after defending its August surge, but a breakthrough above $1.45 is essential for further gains.

According to U.Today on September 15 (local time), XRP is attempting to stabilize around $1.40 after its short-term market structure significantly changed due to a sharp rise in August. In September, buying pressure entered this range multiple times, and after a recent temporary dip, it quickly recovered. This was interpreted as a sign that selling pressure has not yet gained dominance.

The first key resistance zone is $1.42-$1.45. In September, upward momentum stalled several times in this range. A decisive close above $1.45 on a daily basis would improve the price structure and allow a retest of the $1.50-$1.55 range. The $1.70 high formed in August remains the strongest overhead price level, but breaking it would require much stronger upward momentum.

The technical trend has moved closer to equilibrium rather than overheating. The daily Relative Strength Index (RSI) surged into the overbought zone during the August rally and has since fallen to around 56. U.Today positively assessed this consolidation process, as XRP maintained most of its gains while only cooling off its excessive upward momentum.

On the downside, $1.33-$1.35 is a critical zone that will determine whether the uptrend is maintained. If $1.33 breaks, the current consolidation structure will weaken, and the area around $1.28, where the rising moving average is located, will become the next support level. If even this support level is breached, the importance of the $1.20-$1.25 range increases.

XRP is not in a confirmed new uptrend but rather in a consolidation phase after its August surge. If $1.33-$1.35 is maintained, a structure favorable to buyers will persist, but a breakthrough of the $1.45 resistance is necessary for a significant further ascent.

[Article Key Summary]

-XRP is solidifying its price structure around $1.40, maintaining most of its gains after the August surge.

-If $1.45 is broken, $1.50-$1.55 is mentioned as the next target, with $1.70 remaining a key overhead price level.

-If $1.33 breaks, the likelihood of testing lower support levels increases, first at $1.28, then down to the $1.20-$1.25 range.

*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.*