Ripple Technical Analysis: 16 MAR 2025
XRP’s range levels between highs and lows. Source: TradingView
General View
XRP has staged a solid recovery from its range lows and is now hovering around the mid-range level. The price action suggests that bulls are attempting to hold ground, but a clear directional move is yet to be confirmed. The mid-range remains a crucial pivot zone; if buyers can establish acceptance above this level, a continuation towards the range highs could unfold. However, if bulls continue to fail in establishing a stronghold above the mid-range, a short-term drop can’t be ruled out. Meanwhile, as for the longer-term, the descending trendline resistance remains intact, keeping the larger trend under pressure. A decisive break above this trendline could fuel a stronger bullish reversal in the coming sessions.
On the Upside
The immediate challenge for bulls lies in reclaiming the mid-range level at approximately $2.39. A successful hold above this region would open the door for XRP to push higher and test the intra-day resistances at $2.50 and $2.60. Beyond this, XRP will face a key hurdle at the range high of $2.90. The descending trendline resistance currently coincides with the range highs, making it an important region on the charts.
On the Downside
Bulls failed to hold the mid-range level on XRP, leading to intra-day profit-taking. This selling pressure has pushed the price to lower supports, and XRP is currently at a supportive level from the intra-day level of $2.28. The bulls are still not in a prime spot and could be exposed to a drop toward the $2.20 to $2.15 levels. This is where some partial short-covering is expected for the day.
XRP is in a converging triangle pattern. Source: TradingView
