Trending Articles- Gold Price Forecast: XAU/USD holds positive ground above $4,100 as Fed rate cut expectations rise
- Australian Dollar receives support following cautious remarks from RBA Hauser
- Gold draws support from safe-haven flows and Fed rate cut bets
- CoreWeave Q3 2025 Earnings Analysis: Short-Term Hypergrowth vs. Long-Term Leverage Risks—Trading Opportunity or Trap?
- Forex Today: BoE policy announcements to set direction for Pound Sterling
- WTI holds near $59.50, further downside appears due to oversupply concerns
The cryptocurrency market's rally stalled on Wednesday, halting the uptrend that started on Monday.
The uptrend in the cryptocurrency market has cooled as the market digests the news of easing tensions in the Middle East.
As of writing, Bitcoin is up slightly by 0.3% and trading steadily above $106K. Ethereum is down slightly by 0.7% and struggling to break through the key resistance level of $2,500. Ripple (XRP) is down by 1.8% and hovering around $2.18.
Source: TradingView
XRP Price Outlook
The recovery of XRP from the $1.90 support level can be directly attributed to the renewed risk-on sentiment generated by signs of easing geopolitical tensions.
However, the RSI indicator on the daily chart is hovering around the neutral level of 50, indicating that the bullish momentum is fading. To maintain the bullish momentum, the RSI indicator should continue to break through the neutral level.
Currently, the XRP price faces resistance near $2.20. The first major resistance is near $2.220, while another is $2.250.
If the price of XRP can break above the $2.250 resistance, it could rise further to $2.320, which is the next resistance level.
If the price fails to break above the $2.20 resistance, it could start a new decline. An initial support is near $2.150, while another major support is near $2.080.
Read more
Before making any trading decisions, it is important to equip yourself with sufficient fundamental knowledge, have a comprehensive understanding of market trends, be aware of risks and hidden costs, carefully consider investment targets, level of experience, risk appetite, and seek professional advice if necessary.
Furthermore, the content of this article is solely the author's personal opinion and does not necessarily constitute investment advice. The content of this article is for reference purposes only, and readers should not use this article as a basis for any investment decisions.
Investors should not rely on this information as a substitute for independent judgment or make decisions solely based on this information. It does not constitute any trading activity and does not guarantee any profits in trading.
If you have any inquiries regarding the data, information, or content related to Mitrade in this article, please contact us via email: insights@mitrade.com. The Mitrade team will carefully review the content to continue improving the quality of the article.
