XRP news today: XRP Drops 0.12% As Federal Reserve Withdraws Crypto Guidance

XRP is currently at a pivotal juncture, hovering around the $2.15 support level, which is closely monitored by 70% of market participants using the 100-hour Simple Moving Average (SMA) to gauge short-term market direction. The upcoming periods will be crucial in determining Ripple’s trajectory, as traders assess higher resistance levels and potential support zones.

The XRP price is currently trading around $2.18, reflecting a slight 0.12% drop over the past 24 hours. The critical support at $2.15 aligns precisely with the 100-hour SMA, which has historically been a reliable indicator of upward price movements during positive market sentiment and favorable fundamental conditions. XRP previously reached a peak of $2.30 before facing rejection and entering a downward trend. Bullish momentum is currently present as the price approaches the $2.15 support level.

The 100 SMA often serves as a short-term indicator of market trend strength and can provide bullish upward momentum if buying demand is successfully established. This moving average acts as a key alert area for traders looking to enter the XRP market before it shows renewed strength. A successful bounce from the $2.15 support level could initiate new upward targets at $2.23, followed by $2.30.

Recent developments indicate that the Federal Reserve has withdrawn its crypto guidance for banks, which is seen as a major bullish signal for cross-border payment tokens like XRP. This move suggests the emergence of a new financial system, with XRP positioned as a leading force. The withdrawal of guidelines could pave the way for increased adoption and integration of XRP in the financial sector, potentially driving its price higher.

XRP is currently operating within strong resistance areas while its support levels are progressively weakening. The initial resistance point is near the $2.20 price area, with additional strong barriers at $2.23 and $2.30. A successful upward breach of these levels could propel XRP to $2.35 and potentially even higher to $2.50. The primary support level for XRP is $2.15, with secondary support levels at $2.10 and $2.065. Failure to maintain support above $2.15 could trigger an extended downtrend, as investors may seek lower levels if market sentiment worsens.

Technical indicators for XRP currently present conflicting signals for the short term. The hourly MACD indicator is weakening in the bullish area, suggesting potential bearish trend crossovers unless XRP maintains strong momentum. Buyers anticipating a recovery should exercise caution, as this serves as a warning signal. The RSI is slightly above 50, indicating hesitation among traders who are positioned between overbought and oversold areas. A downward movement of the RSI below 50 would confirm a short-term bearish trend, potentially driving XRP towards its base support level.

The bullish outlook for XRP requires a balanced or upward-moving RSI reading and no bearish signals from the MACD crossover. The next directional clues will become clearer when price actions align with 100 SMA signals. The XRP price movement heavily depends on the performance of its 100-hour SMA, which could serve as support for future bullish activity. Rising from this support area might attract new market buyers, propelling the XRP price toward $2.30 and above. Conversely, a decrease below the $2.15 support could initiate a more extended downward correction, boosting short-term bearish sentiment.