1 month ago
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Key Takeaways
- XRP is trading near $1 after reaching an intraday low around $0.987.
- Price is testing a descending trend line but remains below the 50-, 100- and 200-day SMAs.
- CoinGlass reported about $1.23B in XRP futures volume, versus $152.9M in spot volume.
- Futures-heavy trading shows market activity, not whether buyers or sellers are in control.
- $1.02-$1.04 is the first recovery zone; the 50-day SMA near $1.075 is the next hurdle.
XRP Is Testing $1, Not Reversing Its Downtrend
XRP was trading near $1.004 on August 17 after moving between roughly $0.987 and $1.006 during the daily session. The bounce brought price into contact with the descending trend line that has limited recovery attempts since late July.
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