XRP Price Prediction: Why $1.77 Support Is the Level Traders Can’t Ignore

Crypto Writer

Arslan Butt

Crypto Writer

Arslan ButtVerified

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Sep 2022

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis…

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XRP is currently trading around $1.85, which tells us something important: this isn’t about getting caught up in hype or an attention-grabbing story anymore; it is about what’s really going on with the structure. The price action has slowed down since that pullback from $2.11, and now XRP is at a technical crossroads, with the next move potentially setting the tone for the next few weeks.

Right now, XRP has a market capitalization of around $111.9 billion – putting it at number five out of all the cryptos – and with a daily trading volume of roughly $1.53 billion, that’s not panic selling so much as steady participation. We like that kind of stability – especially when XRP is having to navigate a tightening technical range.

XRP Price Prediction: Descending Channel Keeps XRP Contained

Looking at the 4-hour chart, XRP price prediction seems bearish as XRP is still stuck inside a descending channel, which has had a series of lower highs since that $2.11 peak, and no matter how hard it tries, each recovery has been pushed back down by falling trend resistance.

Meanwhile, the 50-EMA sits at just over $1.88 and the 100-EMA at $1.92. At the same time, the decline hasn’t been a wild, impulsive free-fall, suggesting it’s still possible to think in terms of distribution rather than a complete and utter collapse.

You can see that the price is still below the 50-EMA near $1.88 and the 100-EMA around $1.92, which also reinforces some caution for the short term. But – and this is a big but – sellers have so far failed to force a sustained breakdown, which suggests that the downward pressure is starting to ease off a bit rather than intensify.

Candlesticks and RSI Signal Compression

Looking at the candles, you can see that we’re mostly seeing small bodies, with spinning tops and doji-like formations – and that says a lot about the hesitation we’re seeing right now. No one – at least, not yet – has really got a clear upper hand.

XRP Price Chart – Source: Tradingview

With the RSI hovering around the low 40s, you can see that we’re not really seeing any sharp upward or downward momentum – it’s just sort of steady. And it’s also worth noting that – and this is a big positive – we’re not seeing any bearish divergence, which actually reduces the chances of a sharp, sudden plunge lower. Instead, XRP is just compressing near the support level.

Key Levels That Define the Next Move

So, to summarize where we are now, the technical roadmap is fairly clear:

  • The big resistance zone is currently at $1.88–$1.92
  • If we can break through above $1.92 then we’ve got the green light to head upwards – and the targets would be $1.96, then $2.05–$2.10.
  • Support is down at $1.77
  • Downside risk kicks in if that support starts to fail and we drop below $1.65

As long as that support at $1.77 holds, we’re still just in a consolidation phase – and not bearing the brunt of some kind of breakdown.

If we can break through $1.92, that’s been shown to shift the momentum back towards the buyers – and that opens up the door for another run towards $2.05–$2.10. But until then, patiently waiting for what happens next is probably the smartest move.

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