2026-4-23 09:10 |
The cryptocurrency market has slightly retraced following its earlier rally. However, Ripple’s XRP is the worst performer among the top 10 cryptocurrencies by market cap.
The coin has lost nearly 2% of its value in the last 24 hours and is now trading around $1.41.
However, XRP could resume its rally as sentiment across the crypto market broadly steadies amid the extension of the United States (US)-Iran ceasefire.
Despite neither country having committed to a second round of peace talks, the ceasefire appears to be containing volatility in global markets.
In addition, the Crypto Fear & Greed Index sits at 59 in 'greed' territory on Thursday, up from 23 last week and 8 in extreme fear territory in March.
If sentiment continues to improve, risk appetite for risk assets like XRP would increase along with bullish conviction.
XRP stays above $1.41 as bullish bets surgeXRP is down nearly 2% in the last 24 hours but continues to trade above $1.40.
The positive performance comes as the interest in XRP remains high, as reflected by the Open Interest (OI)-Weighted Funding Rate averaging 0.0066% on Wednesday.
CoinGlass data shows that the perpetual futures metric has stayed in positive territory since April 3, affirming an overall bullish outlook as traders increasingly hold long positions.
This implies that buyers are willing to pay a premium in fees to stay long while expecting an extended breakout.
Furthermore, with the OI Weighted Funding Rate moderately positive at 0.0066%, the retail market is neither overstretched nor euphoric, suggesting potential for further upside price action.
Technical outlook: XRP bulls eye the 100-day EMA at $1.54The XRP/USD 4-hour chart remains bearish and efficient as Ripple has been trading within a range in recent weeks.
The coin is holding a neutral to slightly constructive near-term bias.
The 50-day Exponential Moving Average (EMA) at $1.41 is currently providing near-term support, with a bounce back above this level establishing a strong bullish momentum.
However, XRP remains below the 100-day EMA at $1.54 and the longer-term 200-day EMA at $1.78.
Momentum indicators lean supportive, with the Moving Average Convergence Divergence (MACD) histogram holding modestly above zero on the daily chart.
The Relative Strength Index (RSI) is around 52, suggesting positive but not overextended upside pressure.
If the bullish trend resumes, the buyers would encounter immediate resistance at the 100-day EMA around $1.54, marking a 7% increase from the prevailing spot price.
A sustained break above that area would expose the descending trendline near $1.68, ahead of the more strategic 200-day EMA at $1.78.
However, if the current resistance level holds, sellers would take control and push XRP towards the initial support at the 50-day EMA at $1.41.
A daily close back below this demand zone would weaken the current constructive tone and open the door to a deeper pullback within the broader downtrend.
The post XRP eyes $1.54 EMA: is this make-or-break level for bulls? appeared first on Invezz
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