Why does the XRP price hang between $1.25 and $1.60?

The XRP price remains under pressure, despite positive developments around the crypto currency. For ten weeks, XRP has failed to convincingly rise. According to crypto analyst ChartNerd, this is mainly due to the technical situation. He points to two important price levels that determine whether XRP can recover or sink further.

According to ChartNerd, XRP has been largely moving between 1.25 and 1.60 dollars for ten weeks. Every time the price rises towards the top, the selling pressure increases. At the bottom, buyers step in again.

As a result, the crypto coin remains trapped in a relatively narrow price range.

Currently, the XRP price is around 1.32 dollars. That is about 1.2 percent lower than a day earlier. Over the past month, the loss is even eighteen percent.

Since the beginning of the year, XRP has fallen by about 28 percent, although the price is still more than twenty percent higher over the past ninety days.

According to ChartNerd, the current situation arose after the sharp increase of about seventy percent in August. Since then, XRP has been moving sideways and the coin has failed to start a new rising trend.

The analyst looks at the average price trend over twenty and fifty weeks. XRP has been moving between these two lines for quite some time, which he believes are important boundaries.

According to ChartNerd, there are two possible scenarios.

The first is a rise above the resistance between 1.50 and 1.60 dollars. XRP has failed to break through this zone several times in recent weeks. If this still succeeds, this may indicate that buyers will regain control and a new increase will be possible.

The second scenario is less positive. XRP is currently close to support between $1.25 and $1.30. This zone has prevented the price from falling further several times in recent months. If XRP falls below it, according to the analyst, a larger price drop may follow.

ChartNerd therefore emphasises that investors should wait for a clear breakthrough before starting from a new direction.

The price development is causing frustration among some XRP investors. There have been several positive developments around the XRP ecosystem in the past period, but they have not yet led to a lasting price increase.

According to ChartNerd, this is not unusual. Positive news does not have to translate directly into a higher price, especially when a crypto coin has been moving between important support and resistance levels for a long time.

For the time being, the analyst therefore mainly looks at the graph.

As long as XRP remains above $1.25, the existing support will last. But it is only with a convincing break above 1.60 dollars that he sees a clearer signal that the price can rise again.