📉 XRP is back in trouble: it has lost the weekly 200 MA again and is testing a key level.
XRP is still trading inside a broad weekly range, with resistance at $1.50 and major support at $0.99. In August it staged a huge weekly rally off that floor and reclaimed the 1-week 200-day moving average, a level traders watch closely as the dividing line between bull and bear structure.
That reclaim has now failed. XRP has slipped back below the 1W MA200, which sits just under $1.30 on the chart. It fell to an intraday low of $1.20 on Thursday after the record Binance hack, and it's down about 16% for October.
The level that matters is $1.32. To avoid more selling pressure, XRP needs to reclaim it and close a weekly candle above it. Until then, the path of least resistance points back toward the lower half of the range, with $0.99 as the major support below.
Failing to hold the moving average doesn't guarantee a breakdown, and the range has held for most of the year. But with sentiment shaken across crypto, weekly closes are the signal to watch.
Not financial advice.
#XRP #Ripple #CryptoAnalysis #TechnicalAnalysis #Crypto $XRP
XRP is still trading inside a broad weekly range, with resistance at $1.50 and major support at $0.99. In August it staged a huge weekly rally off that floor and reclaimed the 1-week 200-day moving average, a level traders watch closely as the dividing line between bull and bear structure.
That reclaim has now failed. XRP has slipped back below the 1W MA200, which sits just under $1.30 on the chart. It fell to an intraday low of $1.20 on Thursday after the record Binance hack, and it's down about 16% for October.
The level that matters is $1.32. To avoid more selling pressure, XRP needs to reclaim it and close a weekly candle above it. Until then, the path of least resistance points back toward the lower half of the range, with $0.99 as the major support below.
Failing to hold the moving average doesn't guarantee a breakdown, and the range has held for most of the year. But with sentiment shaken across crypto, weekly closes are the signal to watch.
Not financial advice.
#XRP #Ripple #CryptoAnalysis #TechnicalAnalysis #Crypto $XRP
