XRP briefly broke through the $1.50 level during overnight trading but faced stiff resistance, retreating to around $1.46 at press time, according to CryptoAppsy. The daily gain narrowed to 2.59%. Technically, bulls have held the critical $1.44 support, which coincides with the 100-hour moving average and an ascending trendline. Analysts say a daily close above the Fibonacci resistance at $1.5074 is needed to sustain the current upward momentum.
Derivatives Signal: Negative Funding Builds Shorts
Funding rates in derivatives markets remain negative, indicating a build-up of short positions. Such configurations often trigger sharp rallies when shorts are forced to cover. This dynamic adds an extra layer of support for XRP's ability to defend key levels. However, the bulls still need to confirm a move above $1.50 or consolidation may persist.
Momentum Indicators and Price Levels
TradingView data shows 12 buy, 9 neutral, and 5 sell signals for XRP. The Relative Strength Index (RSI) hovers near 59, staying below overbought territory while retaining bullish appetite. The MACD indicator also flashes buy signals. Moving averages in the $1.41-$1.43 range have provided solid support, while long-term averages at $1.72-$1.75 pose major hurdles. Immediate resistance sits at $1.49, with the next target at $1.61; support is concentrated between $1.38 and $1.41.
Bitcoin Nears $82K, Broader Rally Boosts XRP
XRP's latest surge coincided with a broader market rally as Bitcoin approached $82,000, boosting risk appetite. Meanwhile, steady growth of DeFi applications on the XRP Ledger is seen as a long-term positive. Analysts note that XRP has broken its downtrend since 2021 and is establishing a new base in the $1.30-$1.55 range as a long-term support zone. The market cap stands near $90 billion, offering a stronger foundation for the next move.
Outlook: Medium-Term Target at $2, Long-Term at $3.80
Looking ahead, if XRP can hold above $1.50 and technical signals remain positive, attention will quickly shift to the $2 target in the medium term and even $3.80 over a longer horizon. Failure to maintain current levels could see a retest of support around $1.30. The coming weeks will be decisive in determining whether the recovery trend extends further.