With the recent rise, the XRP price regained the $ 1.28 level for the first time in about two weeks. The evaluations that the news regarding the easing of tensions between the USA and Iran were influential behind this movement in the market came to the fore. The easing of pressure on digital assets caused by increasing geopolitical uncertainty also supported risk appetite.
Purchases by big investors attracted attention
The recovery was not limited to the general market atmosphere. On-chain data showed that large XRP investors continued to accumulate during the recent decline. It was observed that wallets holding at least 1 million XRP controlled approximately 74.1% of the circulating supply, and this group added 1.53 billion XRP in the last six months.
This picture was interpreted as an element that indicates that large-scale investors maintain their long-term expectations for the Ripple ecosystem. Ripple stands out as a financial technology company known for its cross-border payment infrastructures and tokenization work on XRP Ledger.
The fact that large wallets continued to buy during the last decline strengthened expectations that the recent recovery in XRP was not just a short-term reaction movement.
Market observers state that the easing of macroeconomic pressure and the strengthening of large investor demand in the same period paved the way for the latest rise.
Resistance levels stand out in the technical outlook
On the technical analysis side, it is reported that a breakout confirmation occurred on the chart after XRP exceeded several short-term resistance levels. The asset is testing the 200-period exponential moving average on the four-hour time frame. This region is among the important support and resistance areas that investors follow closely.
The falling trend line, which has been effective throughout the year, continues to be one of the main obstacles to the upward movement. If the price settles above this line permanently, higher resistance areas may come to the fore again.
Mini dictionary: Elliott Wave analysis is a technical analysis method that tries to explain price movements with wave structures based on investor psychology. EMA, on the other hand, stands for exponential moving average and is used to track the short-term trend with more emphasis on recent price data.
| Indicator | Level | Meaning |
|---|---|---|
| Current price | $1.28 | Two-week high |
| 200 period EMA | About $1.24 | Critical technical threshold in the short term |
| intermediate resistor | $1.61 | Next watched region |
| upper target | $1.94 | The retest area that analysts are watching |
Analysts eye $1.94
Some analysts think that the correction structure may be complete based on Elliott Wave analysis. Accordingly, the upward break of the wedge formation, the reset in momentum indicators and the preservation of the demand zone may have paved the way for the next upward wave.
In the analysis, it was evaluated that $ 1.61 stood out as intermediate resistance and the $ 1.94 level could be retested if the current momentum is maintained.
Although the $4.47 level is pointed out as the broader target, it is emphasized that there are multiple resistances that need to be overcome before reaching this level. For this reason, it is closely monitored whether the support around $ 1.21 and the permanence above $ 1.50 can be maintained in the short term.
Indicators point to recovery in the short term
At the time of review, XRP was trading around $1.28, up approximately 8% on the day. While the RSI was at 56.14, it remained below the overbought zone. Stochastic %K indicator was measured as 58.94 and CCI was measured as 40.33. These data showed that the market was gaining upward momentum without overheating.
While ADX generated a buy signal at 34.25, the MACD indicator presented a bullish outlook despite remaining in the slightly negative zone. TradingView’s technical summary included 11 buy signals, 9 neutral signals, and 6 sell signals. In contrast, longer-term moving averages have revealed that the $1.35 to $1.58 range remains a strong resistance area.
