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Analysts Lay Out Ripple’s Key Levels as XRP’s Price Recovers 4%

After almost a week of price drops, Ripple’s cross-border token, XRP, has moved up again. The price rose about 4% from yesterday. It’s now just over $1.60 per token.

Several analysts shared their views on what could happen next. They looked at possible support levels and important price barriers. They also explained why the move up might be either real momentum or just a temporary bounce before more losses.

A look at the main forecasts

Ali Martinez looked at XRP’s price chart and asked what could happen if this recovery is only a dead-cat bounce. A dead-cat bounce is a short, temporary rebound after a big price fall. It can mislead traders into thinking prices are turning up, when they might fall again. Martinez pointed to a key support level around $1.42 per token. If the price breaks below or tests that area, traders could see more selling pressure. He shared a chart image linked to his post at pic.twitter.com/rXZCnhV7yC.

CryptoWZRD offered a more bullish take. They noted XRP has closed higher against the US dollar, but its future movement depends on Bitcoin’s dominance. Bitcoin dominance is a measure of how much of the total crypto market’s value is in Bitcoin. It helps traders understand which coins could lead the market. CryptoWZRD explained that Bitcoin’s dominance would need to decline a bit for XRP to gain positive momentum against Bitcoin (often shown as XRP/BTC). This could also help Bitcoin itself become more bullish and move toward a $2.00 level, or a price near $2.00. For now, their first target is to reclaim the $1.64 resistance level.

ChartNerd offered a more cautious view. They argued that simply moving past $1.64 isn’t enough for a real bullish revival. XRP would need to reclaim the 100 WEMA at $1.87. WEMA stands for a moving average line used by traders. The 100 WEMA is a long-term moving average line that weighs recent prices more. If XRP can break back above this line at around $1.87, it could “invalidate” a big drop that has seen prices fall by about 50% to 60% since recent highs. ChartNerd added that this is not a guaranteed prediction, but it’s a level traders are watching closely. They emphasized that bulls need to step back in soon. The post also included a chart link at https://t.co/PHqlcnftF6 and a visual at https://t.co/Sw1BTZFd9F.

The overall message from these analysts is that XRP remains at a crossroads. The next few moves depend on several factors, including how much Bitcoin dominates the market and how XRP can interact with moving average levels used by traders.

Spot XRP ETFs and market flow

Meanwhile, spot XRP exchange-traded funds (ETFs) continued a pattern of net outflows for the fourth consecutive day since the first XRP ETF began trading in November last year. The total amount withdrawn from these funds was small — just over $400,000.

To put this in context, January 29 was a much more challenging day for XRP ETFs. On that day, about $92.92 million left the funds. On that same day, XRP’s price dropped from around $1.90 to $1.70 in less than 24 hours. This kind of move shows how quickly sentiment and flows can change in the crypto market.

The article noting these analyst views and market moves was first published by CryptoPotato.

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