Will Ripple (XRP) Surpass $1.60 Again? This Week, '$1.48' is the Decisive Point

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XRP (Ripple) recently surged by 33% but has since lost upward momentum, consolidating around the $1.50 mark. Analysis suggests that if the $1.48-$1.50 support level holds, a re-breakout to $1.60 and a challenge of the $1.6582 high are possible. However, if $1.48 breaks, the correction could extend to $1.44-$1.45.

According to cryptocurrency media outlet Watcher.Guru on September 30 (local time), XRP was trading at approximately $1.50 at the time of writing, down 4.5% over the past 7 days. The price range over the last 24 hours was $1.47-$1.56. Previously, XRP surged about 33% from a low of $1.2457 on September 16 to $1.6582, but it failed to maintain its upward momentum above $1.60, showing a short-term trend of lower highs.

The key is whether the $1.48-$1.49 range, which was a past resistance level, will act as support. XRP retreated to the high $1.40s after its first attempt to break $1.60, and it failed to recover the $1.6582 high during its second ascent. The outlet analyzed that to revive the uptrend, XRP must first reclaim $1.55 and then decisively break the key resistance zone of $1.58-$1.60. Surpassing $1.60 would bring $1.65-$1.66 and the previous high of $1.6582 back into view.

Technical indicators clearly show a slowdown in short-term momentum. Multiple Relative Strength Index (RSI) readings were 39.27, 42.79, and 48.14 respectively, all below the neutral threshold of 50. The Moving Average Convergence Divergence (MACD) also remained in negative territory, with its histogram recording approximately -0.0082. While it's not yet time to conclude that the uptrend has completely broken, a recovery in buying momentum is needed before re-challenging $1.60.

An emergency security-related update was also carried out on the XRP Ledger (XRPL). Developers deployed xrpld 3.4.1 to fix security issues related to the protocol, including a new amendment called fixBatchV1_2. Validators and node operators were requested to upgrade promptly, and it was stated that there was no impact on the mainnet and no loss of funds occurred. This amendment has already secured the support of the validator supermajority and is scheduled to be applied on October 9. However, Watcher.Guru evaluated this as a network-level development rather than a direct catalyst to boost XRP's price.

Analysis suggests that XRP's direction this week ultimately depends on whether it defends the $1.48-$1.50 range. If it holds this range, recovers $1.55, and breaks through $1.60, a re-challenge of $1.65-$1.66 becomes possible. Conversely, if it definitively breaks below $1.48 and fails to recover, $1.44-$1.45 is presented as the next support zone, and further declines could extend the correction to $1.39-$1.42.

*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.*