XRP is facing strong selling pressure on the daily (1D) chart, down 5.10% over the past 24 hours and trading around 1.4217 USDT (approximately R$7.15). The pair is trading near its daily low of 1.4067 USDT after failing to hold above levels near the high of 1.4996 USDT.
Trading volume totals 238.77 million USDT (~164.84 million XRP), signaling significant volume during the pullback.
Overview of the Last 24 Hours
Price action over the past 24 hours reflects a strong rejection in the $1.50 region. The move pushed the asset below its short- and medium-term moving averages, testing buyers' appetite around the psychological $1.40 zone.
Technical Indicator Readings (Daily Chart)
Retracing Moving Averages: The price fell below the EMA(7) at $1.4809 and the EMA(25) at $1.4615. The Bollinger Bands Middle Band (MB) at $1.4932 now acts as strong immediate resistance.
Bollinger Bands: The asset is approaching the lower band (DN at $1.3966). Historically, touching or breaching the lower band tends to precede a rebound or consolidation.
RSI (6 at 27.02): The Relative Strength Index has entered extreme oversold territory (below 30). This points to weakening short-term selling momentum and leaves room for a technical recovery.
MACD: Shows a bearish crossover (DIF at 0.0247 below DEA at 0.0367) and a negative histogram (-0.0119), confirming the current corrective momentum on the daily chart.
Macro Support Structure: The EMA(99) at $1.3347 and the Supertrend indicator at $1.3033 represent the crucial line of defense for the bullish cycle.
Next Steps and Trading Scenarios
[ Rebound at $1.5898 (Upper Band) ]
▲
│
[ Resistance Zone ] ────── $1.4932 (Middle Band / EMA 7)
▲
────────────────── [ Current Price: $1.4217 ] ──────────────────
│
[ Immediate Support ] ────── $1.3966 (Lower Band)
│
▼
[ Macro Support at $1.3033 (Supertrend) ]
1. Bullish Scenario (Recovery / Technical Bounce)
To reverse the immediate bearish bias and start an upward move, XRP needs to confirm support in the $1.4000–$1.3966 zone.
* Entry Trigger: A daily candle close with a lower wick (hammer) near $1.40, accompanied by the RSI recovering from oversold territory.
* First Target: Retest of the $1.4615 (EMA 25) and $1.4932 (Bollinger Bands Middle Band) range.
* Main Target: Break above and hold above the psychological $1.5000 mark, opening the way to target $1.5898 (Upper Bollinger Band) and the Parabolic SAR level at $1.6377.
2. Bearish Scenario (Correction Continues)
If selling pressure breaks immediate support on high volume, the chart structure points to a search for liquidity at lower levels.
* Confirmation Trigger: A daily close below the Lower Bollinger Band at $1.3966.
* First Downside Target: Test of the EMA(99) at $1.3347.
* Critical Target: The $1.3033 region (Supertrend level) and $1.2521 (MA 99). Losing this level would invalidate the medium-term bullish structure, signaling a trend change to a prolonged downtrend.
Risk Management
With the RSI at 27.02, short positions at the current price carry a high risk of a short squeeze or a quick relief bounce. For long positions, confirmation of a bullish pivot above $1.40 support, with a stop loss set below $1.39, offers a favorable risk/reward ratio.