XRP Pulls Back From Recent Highs
XRP closed its latest daily candle at $1.4554, retreating from a high of $1.5505. The pullback follows a strong weekly performance that saw the Ripple-linked cryptocurrency register a 46% gain over seven days and surpass a $91 billion market cap amid a broader shift in market sentiment from fear to extreme greed.
Despite the recent upward surge, XRP is among several top-10 coins experiencing a pullback, though its decline remains relatively shallow compared to peers.
Technical Indicators and Chart Structure
On the daily chart, XRP's recent recovery remains tied to a longer-term downtrend. After bottoming near $1.00 in early August, the token staged a sharp vertical move of roughly 55% to $1.55. The Average Directional Index reached 44.8, confirming a strong directional leg rather than a weak bounce.
However, consecutive down days have formed the shape of a relief rally stalling under resistance. The 50-day moving average remains below the 200-day moving average, maintaining an active death cross formation that points to a downward medium-term trajectory. Additionally, the Relative Strength Index (RSI) stands at 76.8, placing the asset in overbought territory.
Key Levels to Watch
Market participants are monitoring specific price thresholds to determine the asset's next direction:
- Bullish Scenario: If XRP reclaims and holds $1.5507, it could target resistance levels at $1.5824 and $1.6227, provided squeeze momentum fires and the RSI cools without a breakdown.
- Bearish Scenario: A loss of the $1.4342 floor risks a decline toward the $1.40 shelf and potentially the early-August base near $1.00.
Until XRP successfully reclaims $1.5507, the base case anticipates a drift toward the $1.4342 level while momentum indicators determine the next leg.
