XRP Price Breaks Downtrend as Bulls Target $1.80. Source: EconoTimes
XRP is showing signs of a medium-term trend reversal after recovering sharply from last week's decline. The cryptocurrency climbed back to around $1.48, gaining roughly 7% in a day as institutional buying and broader strength across the altcoin market supported the rebound.
XRP recently fell to a local low of $1.29 amid technical selling and market uncertainty linked to regulatory discussions in Washington. However, the weakness proved temporary, with buyers quickly returning around key support levels.
On-chain data indicates that large investors played a major role in the recovery. Around 1.54 billion XRP was reportedly transferred to institutional addresses within 96 hours of the decline, representing an estimated $2.2 billion in capital deployed to buy the dip. The buying pressure helped absorb selling activity and stabilize daily trading volume near $92.6 million.
Technical indicators are also pointing toward improving momentum. On Bitstamp's weekly XRP/USD chart, XRP was trading near $1.48716, with the weekly candle up approximately 5.45%. More importantly, the price has moved above a long-term descending channel, suggesting buyers are beginning to regain control.
Momentum indicators on TradingView have also produced a bullish crossover from lower levels, reinforcing signs that XRP's previous downtrend may be weakening.
Meanwhile, the $1.25 to $1.38 range has emerged as an important support zone. Trading activity accumulated in this area during July and August, creating a potential price floor if XRP faces renewed selling pressure.
Attention is now centered on the $1.50 resistance level, which also sits near a key moving average. A sustained XRP price breakout above $1.50 could strengthen bullish momentum and potentially attract additional capital from Bitcoin into major altcoins.
If buyers successfully establish support above that threshold, technical analysis suggests XRP could target the $1.80 area over the medium term. However, failure to clear $1.50 could keep the token consolidating around its current range.