Ripple’s native token has extended its bullish momentum in alignment with Bitcoin’s continued strength, sustaining a well-defined uptrend against both USDT and BTC.
However, recent price behavior suggests that the market might be temporarily pausing for a correction or consolidation, as signs of exhaustion begin to emerge across both pairs.
By ShayanMarkets
XRP recently broke above the psychological resistance level at $3.00, following a powerful rally that began at the start of July. The 100-day (blue) and 200-day (orange) moving averages, which are now sloping upward and making a bullish crossover around $2.50, provided the foundation for this move. The market structure has also clearly shifted bullish, as the yellow curved arrow shows.
Currently, the price is hovering above the key $3.00 support zone. The rejection from the $3.40, combined with the RSI falling back below the overbought threshold (now around 59), suggests waning short-term momentum.
As long as the $3.00 level holds, buyers may find a platform to resume the uptrend. A break below this level, however, could send the price toward the $2.50 region, where the converging moving averages would likely act as vital dynamic support.
The XRP/BTC chart reflects a similar trend, with the price surging from early July and breaking above both the 100-day and 200-day moving averages, both positioned around the 2,400 SAT level. This bullish move was met with resistance at 3,000 SAT, where the rally temporarily stalled.
Currently, the market is retesting a bullish fair value gap near the 2,700 SAT mark. If this zone provides support, it could serve as a launchpad for another attempt at the 3,200 SAT resistance, with potential for a breakout. Conversely, failure to hold the FVG could open the door to a deeper correction, with downside targets around 2,400 SAT or possibly the key 2,000 SAT support level.
The post Ripple Price Analysis: XRP Must Maintain This Level to Avoid a Major Correction appeared first on CryptoPotato.
