XRP holds $1.32 as weekly RSI hits 32, with traders watching $1.30 support and $1.42 resistance for trend confirmation.
XRP price traded near $1.32 as market watchers focused on a weak weekly RSI reading.
The indicator stood near 32 on the weekly chart. That level has appeared near past low points in XRP cycles. As a result, traders are watching whether the token is building a longer-term base.
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Weekly RSI Sees XRP Tests a Key Area
The weekly RSI has moved into a zone many traders call oversold.
On higher time frames, that can attract close market attention. In past XRP cycles, similar readings appeared after extended price weakness. Later, those periods were followed by long consolidation phases.
Even so, RSI alone does not confirm a market bottom. Prices can stay weak while the indicator remains low.
For that reason, traders are also watching support behavior and weekly closes. They want to see whether selling pressure starts to fade.
At the same time, XRP is holding around $1.32. That price area now matters because it sits near a key support band. If buyers defend that zone, it could support a base formation.
If support breaks, the bottom call may lose strength.
Daily Chart Keeps the Broader Structure Under Pressure
The daily chart still shows a bearish medium-term structure.
After the rally toward $2.416, XRP began posting lower highs. That pattern usually points to weaker buyer control. Since then, price has moved lower and then shifted into a narrow range.
The current support zone sits between $1.30 and $1.32. XRP is trading close to that band, which makes it a decision point.
A daily close below it may expose lower levels near $1.24 and $1.20. The February low near $1.118 remains a major downside reference.
On the upside, resistance starts near $1.42 and $1.43. That area also matches the 23.6% Fibonacci retracement near $1.4247.
Above that, traders are watching $1.50, $1.614, and $1.767. Until XRP closes above $1.42, the trend remains under pressure.
Momentum Signals Remain Weak Despite the RSI Setup
Other indicators still show soft momentum on the daily chart. The MACD remains below the zero line. That reading suggests buyers have not regained control. It also shows that upside momentum is still limited.
XRP tests $1.32 support as bearish momentum persists. Source| TradingViewMeanwhile, the Chaikin Money Flow sits near -0.17. That points to negative money flow and steady selling activity.
So, while the weekly RSI looks stretched, short-term signals stay weak. This creates a mixed picture for the market.
Price action also supports that cautious view. XRP has moved inside a narrow band between $1.30 and $1.45. Several rebound attempts failed near the upper part of that range. That shows sellers are still active during short rallies.
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Market Watches for Confirmation Above Resistance or Below Support
For now, traders are focused on two near-term paths.
If XRP holds support and reclaims $1.42, recovery targets may shift toward $1.50 and $1.61. That move would need stronger momentum and firmer buying interest. It would also help improve the daily structure.
However, a break below $1.30 would change the setup. That could open the way for a move toward $1.20. After that, traders may look back to the $1.118 low. Such a move would weaken the case for a near-term bottom.
At present, XRP price holds $1.32 while the weekly RSI keeps bottom talk active.
Still, the chart has not confirmed a reversal. Support is holding, yet momentum remains soft. That leaves the market balanced between a possible base and continued downside risk.
Source: https://www.livebitcoinnews.com/xrp-price-holds-1-32-as-rsi-signals-potential-bottom/
