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The XRP rate has been rising in the past three hours with the gain percentage standing at 1.90 percent and an exchange rate of $1.82736. The price remained more than the support zone of $1.79, and the buyers became interested again, which indicated a new short-term confidence. This movement indicates an increasing demand after the recent merger around local lows.
There was no sharp spike in buying pressure; also, the market displayed a steady buying pressure. The chart was dominated by green candles which signified controlled accumulation rather than speculative chasing. The reaction of the traders was positive since XRP did not fall into a further pullback and determined itself at the significant intraday levels. Such a gradual motion usually implies more powerful hands taking up positions. It also eliminates the chances of the instantaneous rejection unlike sudden vertical pumps.
Next Move is Characterized by Support and Resistance
The decisive role is now taken by technical levels. The support is at $1.79334, and this is an area that has just taken in selling pressure. This level was successfully defended and no more downside was experienced by buyers, which gave them an opportunity to recover.
On the upside, there is resistance of $1.85155. This level tops off existing range and is the next significant bull-test. Breaking above resistance with a clean break may lead to momentum-driven buying, and XRP may move to the psychological level of 1.90. At the moment, Price is moving between these two levels, which makes it a compression zone. Such ranges are usually solved in the market through an expansion (that is volatility may soon escalate).
Market Environment favors the Recovery
This is a short-term XRP strength that is in line with the larger market stabilization. Traders were ahead of important economic data and risk assets acted cautiously to macro signals. XRP gained with the renewed interest of the new ecosystem developments and liquidity of Ripple.
The fact that the Ripple enterprise integrations and stablecoin projects are still in the spotlight of the ongoing discussion helps to advance the long-term storylines. Short-term price action relies on the technicals although the sentiment is still positive as compared to the past weeks where there was a lot of selling.
Nevertheless, entrepreneurs are disciplined. Volume is good, though not euphoric. Such a balance implies accumulation and not distribution. Now traders are checking whether XRP can decisively close above $1.85. Close above the resistance would be strong, which would change the short-term structure to the bullish continuation. Failure to break above will revert price back to the support to test again.
The bullish bias will not be lost as long as XRP is above $1.79. A failure at support would nullify the existing recovery and reopen downside risk. Confirmation, though, is important at the moment the momentum is in favor of buyers.