Ripple’s XRP faced a 4% drop during the early Asian trading session on Tuesday. This decline followed a 3% loss over the past 24 hours, bringing XRP below the key $2.72 level. This pullback comes after a strong recovery last week, during which the token gained 10%. Despite recent losses, traders are watching key support and resistance levels to determine XRP’s next move.
The 14-day Exponential Moving Average (EMA) near $2.55 could act as a support level and help XRP regain momentum. If the token finds support at this level, it may have a chance to climb back above $2.72. However, if XRP falls below $2.55, it could experience further losses and test the next support level at $2.24. Traders are closely monitoring these price points to assess the market’s direction.
Technical indicators suggest that bullish momentum is weakening. The Relative Strength Index (RSI) and Stochastic Oscillator are below neutral levels and moving downward.
