XRP at $1.9: Testing Key SupportXRP is currently trading at $1.9, a pivotal level, as the crypto market grapples with a 4.4% drop in the last 24 hours. Macro uncertainty, think US inflation data and Fed rate hike fears, is pressuring risk assets. Yet, XRP holds steady, buoyed by whispers of a Ripple partnership with a major European bank for cross-border payments and ETF speculation (unconfirmed).
Technical Analysis
Short-Term (Daily Chart):
Support: $1.90 (current), $1.80
Resistance: $2.00, $2.10
RSI sits at 48 (neutral), while MACD hints at bearish momentum. XRP’s testing the lower edge of a descending channel, holding $1.90 could trigger a bounce to $2.00, but a break below eyes $1.80.
Long-Term (Weekly Chart):
Support: $1.70, $1.50
Resistance: $2.50, $3.00
The 200-day MA is sloping down, signaling caution, but $1.70 is a solid base for bulls.
Potential Scenarios
Bullish: If $1.90 holds and $2.00 falls with strong volume, expect a push to $2.10 short-term, possibly $2.50 long-term if adoption news hits.
Bearish: A crack below $1.90 could test $1.80, with $1.70 next if selling ramps up.
Trading Tips and Context
XRP’s real-world use in payments and recent partnerships fuel long-term hope, but the SEC lawsuit looms as a risk. Short-term traders: trade the range between $1.90 support and $2.00 resistance, set stops tight (e.g., below $1.90 for longs). Long-term holders: $1.70 is your critical level. Keep an eye on SEC updates or ETF chatter for catalysts.
