Quick Takeaways
- XRP failed to break above $1.50 and sharply reversed, drifting back toward support around $1.37, resetting its technical outlook.
- The move below the middle channel boundary and 100-day MA indicates a loss of upward momentum, with key support at $1.20 now critical.
- Against Bitcoin, XRP has further weakened to 1,800 sats, with breach of this support risking a slide to 1,500 sats if selling intensifies.
- Overall, XRP shows signs of downside pressure both in USD and BTC pairs, with key levels to watch for potential breakdowns in May.
Ripple Price Analysis: XRP Sent Back to No Man’s Land After Clean Rejection
Technical Setback in US Dollar Terms
Ripple’s XRP saw its gains disappear in late April. The price closed at $1.37, losing the momentum it had built earlier in the month. Previously, the RSI indicator suggested a potential breakout from the current channel. However, that hope was short-lived. The price failed to stay above the channel’s upper boundary and the 100-day moving average at around $1.50. Instead, XRP reversed direction, drifting lower toward the bottom of its range. This clean rejection reset the technical outlook to a less hopeful position. The $1.20 level, a low point from February, remains the key support zone. If XRP drops below this, it could signal further decline into the lower channel territory. On the flip side, resistance remains near the 100-day MA and the $1.80 supply zone. Until these levels are challenged or broken, the market stays in a cautious stance.
Weakening Against Bitcoin
Against Bitcoin, XRP continues to weaken. The price now sits at about 1,800 satoshis, just at a support level shown on the chart. It is also near the lower boundary of its descending channel at 1,600 sats. The RSI indicator has fallen below 40, indicating weakening momentum. Unlike the USDT pair, where the indicator turned neutral, the XRP/BTC ratio shows no signs of recovery. If price drops below 1,800 sats on closing, it could break the channel lower and might test 1,500 sats. Meanwhile, the 100-day and 200-day moving averages at roughly 2,000 and 2,100 sats stay well above current price, indicating ongoing relative weakness. A bounce back above 2,000 sats would be needed for any serious recovery, but the charts currently do not suggest that move is coming soon.
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