Crypto News
XRP slid 2.9%, with chart analyst ChartNerdTA identifying a reclaim of $1.50 as critical. The token has now closed below its 50-week EMA for six consecutive weeks, while $1.31 is the cited support level.
Why it matters
The extended run below the 50-week EMA shows sellers maintaining control of this technical level. A move back above $1.50 would be the reclaim traders are watching, but the price remains compressed for now.
Market impact
The chart identifies $1.31, aligned with the 20-week EMA, as a guardrail below current levels. Whether XRP can reclaim $1.50 or instead tests that support is the key near-term technical question.
Frequently asked questions
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How many weekly closes has XRP posted below its 50-week EMA?
XRP has recorded six consecutive weekly closes below its 50-week EMA.
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Which price level is identified as a key reclaim for XRP?
ChartNerdTA identifies $1.50 as the level XRP needs to reclaim.
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What support level does the chart identify for XRP?
The chart identifies $1.31 as a support guardrail, aligned with the 20-week EMA.
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What does the six-week stretch below the 50-week EMA indicate?
It shows sellers maintaining control of that technical level, according to the chart analysis.
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What is the near-term technical question for XRP?
Whether XRP can reclaim $1.50 or instead tests the $1.31 support level.
Benjamin Cowen
Lookonchain
CryptoSlate
CoinDesk
CoinTelegraph