XRP Price Analysis: What's Next After 5% Weekly Gain?

Despite XRP recording a weekly gain of approximately 5% recently, overall market sentiment remains cautious. XRP has failed to break through key resistance levels against both USDT and Bitcoin, and continues to trade below long-term moving averages, indicating that a trend reversal has not yet been established. Currently, bulls are fighting to defend key support areas, but a strong breakout signal has not yet formed. On the XRP/USDT chart, the price remains trapped within a clear descending channel, with the daily structure maintaining a bearish outlook. The current price fluctuates around $1.41, below the 100-day and 200-day moving averages, while the $1.80 area, which has previously blocked rebounds multiple times, remains a significant resistance level in the short term. Downside support is focused around $1.20, which not only coincides with the lower edge of the channel but has also acted as a buffer in previous declines. If buyers can effectively break through $1.80 and hold above the 100-day moving average, the next resistance range will target $2.40 to $2.50. However, until then, the market still tends to be dominated by sellers. The Relative Strength Index (RSI) has rebounded slightly, but momentum remains insufficient to support sustained gains. Compared to Bitcoin, XRP's weakness is more pronounced. The XRP/BTC trading pair is currently around 1,990 satoshis, close to the key support level of 2,000 satoshis. Upside resistance is concentrated in the 2,400 to 2,450 satoshis range. If this area cannot be broken, the overall structure will remain bearish. Once it falls below 2,000 satoshis, the downside target may explore down to 1,500 satoshis; conversely, if it successfully breaks through 2,450 satoshis, it is expected to open an upward channel towards 2,700 to 2,800 satoshis. Currently, XRP continues to perform weakly in the Bitcoin-denominated system, lacking dominant buying support.