XRP is testing one of the most important support levels over the past few weeks, and it is barely holding.
The $1.13 level on the weekly chart has been crucial support for XRP over the past week or two. Currently, the price is rising against this line, and the long-term downtrend has not yet reversed, which means the pressure is still to the downside.
What happens if it breaks $1.13?
If XRP confirms a breakout below $1.13 and fails to recover back above it, the next major target lies between $0.90 and $1.00. That area will represent an important new low for the session.
On the shorter four-hour chart, XRP has already fallen below a smaller support level that has been holding for some time, falling directly towards the $1.13 area as expected. If $1.13 gives way before breaking the larger weekly support, there is some minor support lying between $1.08 and $1.10, giving the price a small cushion before the more important target of $0.90 comes into play.
Why is this happening?
XRP tends to follow Bitcoin’s price action closely in the short term, and Bitcoin’s current weakness is dragging XRP and most other altcoins down with it. None of this happens in isolation.
Bottom line
XRP is hanging by a thread right now. The $1.13 level is the most important line this week. Keep it, there’s room for stability. If you lose it, the path to $0.90 to $1.00 will open quickly.
Was this writing helpful?
The story ends here
Trust with CoinPedia:
CoinPedia has been providing accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert team of analysts and journalists, following strict editorial guidelines based on EEAT (Expertise, Expertise, Credibility and Trustworthiness). Each article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy ensures unbiased reviews when recommending exchanges, platforms or tools. We strive to provide timely updates on everything cryptocurrency and blockchain, from startups to industry specialties.
Investment Disclaimer:
All opinions and ideas shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication accepts responsibility for your financial choices.
Sponsored and advertisements:
Sponsored content and affiliate links may appear on our site. Ads are clearly labeled, and our editorial content remains completely independent from our advertising partners.
Read upcoming news
