- ChartNerd identified repeated rejections below XRP’s daily moving averages, leaving the cryptocurrency vulnerable while sellers maintain broader market control.
- XRP’s $1.06 support remains the market’s defining level, while reclaiming key moving averages could reopen a path toward $1.16 resistance.
- Holding current support preserves recovery potential, whereas losing $1.06 increases the probability of a decline toward the psychological $1.00 level.
Crypto analyst ChartNerd has warned that XRP is approaching a decisive technical level as repeated rejections beneath key moving averages increase the risk of a deeper decline. According to the analyst, the cryptocurrency remains trapped below major resistance while repeatedly testing support near $1.06, placing the market at an important technical crossroads.
According to ChartNerd, XRP has spent several weeks trading beneath both the daily 20-day and 50-day exponential moving averages. The analyst noted that each recovery attempt has failed before reclaiming those indicators, allowing sellers to maintain control of the broader daily trend. Consequently, bullish momentum has remained limited despite several short-lived rebounds.
The daily chart also highlights multiple rejection points beneath the moving averages. Moreover, those failed rallies reinforce the horizontal resistance around $1.16, a level that has repeatedly capped price advances. Until buyers reclaim both moving averages, the bearish structure remains intact.
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$1.06 support becomes XRP’s defining technical level
According to ChartNerd, the $1.06 support zone now represents the most important level on XRP’s daily chart, with buyers defending that area several times during recent pullbacks. However, repeated tests often weaken support because sellers gradually absorb buying demand.
Additionally, XRP remains compressed between support near $1.06 and resistance created by the daily 20 EMA around $1.08 and the daily 50 EMA near $1.11, signaling growing pressure as buyers and sellers compete for control. Once either side gains momentum, volatility could increase significantly.
ChartNerd explained that losing the $1.06 support would validate a decline toward the psychological $1.00 level, while prolonged rejection beneath both moving averages increases the probability of additional downside if selling pressure strengthens.
Meanwhile, buyers still have a clear recovery path, as ChartNerd noted that XRP must first reclaim the daily 20 EMA and the daily 50 EMA before challenging the stronger horizontal resistance at $1.16. A decisive move above that barrier would invalidate the recent pattern of failed rallies and improve the broader technical outlook.
Conclusion
XRP remains caught between critical support and persistent resistance, making the $1.06 level the market’s primary focus. Holding that zone could allow buyers to challenge the daily moving averages before targeting $1.16. Conversely, a confirmed breakdown below support would strengthen the bearish outlook and increase the probability of a move toward the psychological $1.00 level.
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