XRP Price Stalls at $1.39 Despite Post-Settlement Recovery
XRP hit resistance at $1.39 while attempting to break higher following Ripple's SEC settlement. The token now trades above $1.37 with bulls targeting $1.40, as 11 major asset managers have filed XRP ETF applications.
Key Takeaway
XRP recovery stalls at $1.39 with bulls needing a close above $1.40 to trigger fresh upside.
XRP hit a wall at $1.39 during its recovery from the $1.35 zone.
The token climbed above $1.3350 and pushed as high as $1.3850 before bulls struggled to keep prices above $1.38. XRP now trades above $1.37 with a bullish trend line forming support at $1.3705 on the hourly chart, according to Kraken data. The hourly MACD is losing pace in the bullish zone while the RSI sits above 50, suggesting momentum is fading but not yet bearish.
The chart shows XRP moved from a swing high of $1.4739 down to $1.3217 before the current recovery began. Bulls breached the 23.6% Fibonacci retracement level and are now trading above the 100-hourly simple moving average, but the 50% Fib level at $1.3980 is the first major resistance. A close above $1.3980 could push XRP toward $1.4120, with further resistance at $1.42 and $1.45.
The settlement of Ripple's SEC case in early March removed five years of legal uncertainty, and 11 major asset managers have filed XRP ETF applications with Bloomberg analysts assigning 95% approval odds by year-end 2026.
On the downside, breaking below $1.35 opens the door to $1.3360. Support sits at $1.3220, where XRP remained stable during the recent pullback, and a breach there targets $1.3050.
This article was written based on reporting from NewsBTC.
