XRP, Is $1.3 an Ironclad Support Line?...If It Holds, a Vertical Surge to $1.5

▲ XRP

XRP is undergoing a price consolidation process based on the $1.30 support line, which it has held firmly for several months, and now stands at a crossroads, poised for a directional decision.

U.Today reported on May 1 (local time) that the $1.30 level has acted as a market floor for several months, establishing itself as the most reliable structural support line. This support line has remained remarkably consistent despite overall market volatility and continuous downward pressure since late 2024. Many traders now consider this price level an almost unbreakable, ironclad support, assessing that while the market is still technically bearish, it is gradually entering a stabilization phase.

Looking at technical indicators, XRP still remains below major moving averages, indicating that the overall trend has not fully shifted to a bullish one. In particular, the 50-day and 100-day moving averages appear to be acting as upper resistance levels, curbing price increases. Nevertheless, the price action around $1.30 is encouraging. Selling pressure has failed to push the price significantly below this level even during periods of high volatility. Although the support line briefly appeared to break in February, a strong rebound immediately followed, preventing a sustained downtrend.

The current price movement shows strong compression between a firm support floor and a downward resistance line. A key element of technical analysis is that selling pressure is exhausting, and such structural consolidation typically leads to a strong breakout in one direction. As XRP approaches the $1.30 line once again, selling pressure is noticeably diminishing, while buying pressure continues to defend at the same level. From a market perspective, this is a critical phase that tests investor confidence.

The mid-term bottom formation scenario is expected to gain more strength if this support line holds again. Successfully defending the $1.30 line increases the likelihood of an attempt to break out towards the $1.40 to $1.50 range. Conversely, failure to hold the support line opens up downside risk, as there are no suitable support levels below it, potentially leading to a sharp price collapse. The current consolidation period is more than just sideways movement; it appears to be a decisive turning point that will determine the direction over the coming months.

XRP is currently gathering energy above the ironclad support line and continues its struggle to break through resistance. The exhaustion of selling pressure and the strong defense by buyers send positive signals to the market, but breaking through the resistance of major moving averages is paramount. Investors are confirming the robustness of the $1.30 support line while monitoring changes in trading volume, awaiting the establishment of a new market direction.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*