The price of XRP attempted to recover above $1.90 but faced resistance near $1.95, raising the question of whether the bullish momentum can be sustained. Currently, the digital asset is trading above its 100-hour simple moving average and forming a technical pattern that could determine the next direction.
What happened: Recovery stalled
XRP's price rose above the swing low of $1.77 and broke through resistance levels of $1.88 and $1.90, consistent with the overall strength of the crypto market.
This rally pushed the price above $1.942, reaching a daily high of $1.9578, where selling pressure emerged.
During the subsequent correction, the price fell below the 23.6% Fibonacci retracement level of the upward move from $1.770 to $1.9578. Currently, XRP is trading above $1.90 and its 100-hour simple moving average, while a descending channel or flag pattern is forming on the hourly chart with resistance at $1.940.
If the price breaks strongly above $1.9550, the next target could be the psychological level of $2.00. After that, further resistance zones are at $2.050, $2.120, and $2.150.
Also read: Bulls Push Ethereum Above $2,950 As Momentum Faces Key Resistance Test
Why it matters: Technical turning point
The current price movement has brought XRP to a significant technical turning point, where indicators are showing weakening bullish momentum.
The hourly MACD appears to weaken despite being in a bullish zone, while the RSI is around 50, indicating neither overbought nor oversold conditions.
If the resistance at $1.9550 cannot be crossed, the price may drop again, with initial support at $1.90.
In case of a break below $1.8650 (50% Fibonacci retracement), support will emerge at $1.8420, and further declines could reach $1.80 and $1.7750.
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