XRP Tests $1.30 Support After Failing $1.40 Resistance
XRP is testing a critical $1.30 support level after failing to break through $1.40 resistance and experiencing a 2% decline over 24 hours.
The digital asset XRP is currently testing a critical support level of $1.30 following repeated failures to break through resistance at the $1.40 mark. The cryptocurrency peaked near $1.40 on October 21 before closing lower, and it is currently trading at $1.33, a 2% decline over the last 24 hours.
Technical indicators show that the 20-day moving average of $1.39 and the 50-day moving average of $1.41 are generating selling pressure as investors seek to recoup losses. While buyers defended the $1.30 floor throughout mid-October, the price experienced a dip as low as $1.25 on October 18.
Market analysts suggest the $1.30 support is likely to hold in the short term. However, they warn that a daily close below $1.25 would signal a failure of October support and a potential shift in market momentum.
