However, a wider view from the 3-day chart introduces caution. The current support region aligns closely with the 200-day simple moving average. XRP’s latest close below this moving average marks the first time in more than 400 days, highlighting a notable technical shift that could weigh on sentiment if not quickly reversed.
This development places XRP at a critical inflection point. The chart shows a relatively thin historical structure following the explosive November 2024 rally that lifted the price from $0.50 to $3. With fewer well-defined demand zones beneath, any acceleration in selling pressure could lead to faster downside moves.
XRP Former Ceiling Turns Into A Structural FloorA clear double-top formation can be spotted on the chart. However, Chad notes that it does not have to fully play out as long as XRP continues to hold above the 0.786 logarithmic Fibonacci level.
