Ripple’s cross-border token got slammed hard after the US Senate failed to advance the CLARITY Act, crashing from a weekly peak of $1.50 straight under $1.30 before rebounding just over that line. Analysts are now spotting better momentum with a possible altcoin rotation brewing, which lines up perfectly with a major technical signal made for XRP.
XRP Needs to Guard This Support Zone 🦇
Ali Martinez believes the immediate fight is simple: the cross-border token must hold the $1.31-$1.35 support before any stronger move can happen. The area is acting as key short-term support right now, with the asset repeatedly hovering around it after this week’s selloff.
This matters even more now as leveraged traders are stepping back again after this week’s deleveraging, when futures open interest dropped over 20% in just days. This suggests some speculative positions got flushed out after the regulatory and macro chaos. Lower leverage can slow immediate upside momentum, but it also makes the market less prone to another cascade of forced liquidations. Fellow analyst Bird meanwhile highlighted improving conditions for altcoins, with traders watching if capital starts rotating away from Bitcoin.
XRP already showed relative strength by slightly outperforming BTC during Friday’s rebound. However, it now has to overcome the next resistance at $1.38-$1.40, followed by the bigger one near $1.50-$1.54 that halted progress days ago.
Golden Cross Forming for Extra Bullish Vibes? 🌹
XRP’s 5-day moving average is closing in on the 200-day moving average, putting the asset super close to a golden cross. The indicator is seen as a bullish momentum signal, though it is no guarantee of more gains. What really counts here is the timing. If the asset defends the $1.31-$1.35 region, reclaims $1.40, and eventually breaks the $1.50 area while broader altcoin momentum strengthens, the technical setup would look way healthier than after the 8% daily drop under $1.30 earlier this week. Still, there are tons of “ifs” left to confirm. At the same time several other altcoins have posted major gains lately while XRP stayed a bit behind. 🖤💀🕸️🩸🌙🐦⬛🪦
Just another echo from the void by iconofsin.eth 💖
