Buyers Hold Ground As XRP Rebounds From $2.32, Testing Key Resistance Zone

The retesting of the support level of $2.32 with success helped XRP to increase by 3.8 percent to reach the level of $2.50 which proved the short-term stability of the XRP.

The momentum has increased due to the presence of support thus in the $2.32-2.52 trading range the token has remained.

The resistance of 2.52 is also a major resistance zone that may determine the next direction of XRP in case the buying momentum continues.

The price dynamics of XRP have demonstrated in addition to the successful retest a new strength and propelled the token in the latest trading session upward. The cryptocurrency increased by 3.8 percent over the last 24 hours to a level of $2.50 and this indicates a steady growth in the cryptocurrency since its support base. The recent data in the market also indicate that XRP has gained 4.3 percent over the same time against Bitcoin equivalent to 0.00002413 BTC.

The more comprehensive technical framework implies that it is bouncing back off the bottom of the downward trend, which shows strength in the buyer activity. It is important to note that the asset has been trading above the major support price of $2.32 and a short term base is being established by the asset that keeps stabilizing in the same region.

Buyers Maintain Control Above Key Support

The recent upward trend was preceded by a successful retest of the mid-range zone that XRP was able to stand firm after a short losing spell in the price compression zone. This has added impetus to the short-term trend in the sense that the support point of the token is at $2.32 and its nearest opposition at $2.52.

The behavior of the market in the last few sessions implies that the buying pressure has been on the rise whenever the prices have lowered around the support. Consequently, we can see the recovery being flat-bottomed as short wicks are created underneath the candles of the last few days, a sign of sustained accumulation. Nevertheless, the following direction is closely related to the response of the market at the upper resistance area.

Resistance Levels Remain a Critical Focus

Currently, the primary resistance of XRP is around $2.52 that has been a ceiling on the numerous times that it has tried to move higher. When momentum continues to rise above this mark, traders will probably see more volatility as the asset approaches the following range of interest.

In the meantime, XRP is neutral-bullish as long as it is not below the level of $2.32. The overall market climate remains to be optimistic, and the short term players are keenly observing the responses at the resistance point to know the future direction that may be experienced within the next few days.