XRP (XRPL) Finds Stability Between Key Support and Resistance Levels - The News Crypto

XRP, the native cryptocurrency of the XRP Ledger (XRPL), has experienced a rollercoaster ride since reaching its all-time high (ATH) of $3.40 in January 2018.

XRP, the native cryptocurrency of the XRP Ledger (XRPL), has seen a rollercoaster of a journey since reaching its all-time high (ATH) of $3.40 in January 2018.

Now trading around 86% down from the top, XRP has managed to maintain a spot within the top 10 valuable cryptocurrencies, despite the downturn and showing potential for a rebound.

— Bitcoin Ape (@bitcoinape_) July 3, 2024

A glance at the technicals surrounding XRP shows us some crucial support and resistance levels that will likely dictate where the price goes next.

The crucial support level is found around $0.28, while the resistance level stands at about $0.66. Notably, the target for a potential bull run is set at $0.95.

The last major bullish price action that XRP saw was back in Q1 2021, the researcher adds.

At the time of posting, the Stochastic RSI was showing the coin to be deeply oversold, presenting a potential buying opportunity for investors.

Currently, Ripple is seen stabilizing around the $0.4831 price level, having faced a 7% loss over the past 30 days. However, the cryptocurrency has gained 7% over the past year, showing a mild positive trajectory in the long term.

A further look at the daily technicals shows us that the Relative Strength Index (RSI) is currently at 32.98, showing that XRP is approaching the oversold zone.

This suggests that the selling pressure may be overextended, and a potential reversal or stabilization could be on the horizon.

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