TL;DR:
- XRP’s price is retesting the $1.97 resistance after breaking through a descending trendline.
- Indicators such as the MACD show a decrease in selling pressure, suggesting a momentum shift.
- Open interest has risen to $3.38 billion, reflecting the opening of new positions amid market uncertainty.
Ripple is at a definitive moment following its pullback from the January highs. Currently, XRP at a crossroads and potential technical reversal are the themes dominating the analysis, as the asset struggles to find its footing near $1.89 after losing the psychological support of two dollars.
Analysts from More Crypto Online point out that the token is testing a descending trendline that now acts as resistance in the $1.97 zone. If the price manages to break above this level with significant volume, the current bearish structure could be invalidated, paving the way for a much more complex and ambitious recovery scenario for investors.
Critical Supports and Exchange Accumulation
Despite glimmers of optimism, the outlook remains cautious due to the (A)-(B)-(C) corrective wave structure that is still visible on the charts. Consequently, the $1.85 and $1.80 levels are being watched as the final defensive bastions; a break below these could rapidly drag the price toward $1.66.
On the other hand, whale activity adds a layer of complexity to the analysis, with massive transfers of 130 million tokens to exchanges during this month. Data from Coinglass reveals that while trading volume has dropped by 17%, open interest has grown by 3%, indicating that the market is accumulating new positions in anticipation of a volatile move.
In summary, the state of XRP will depend on its ability to flip the $1.97 resistance into a new support. While the MACD is starting to show decreasing red bars—suggesting that seller exhaustion is real—only a solid daily close above the resistance levels will confirm if Ripple is ready to reclaim its bullish trend or if it will visit lower levels before February.
