Tuesday, 02 January 2024 12:17 GMT

XRP Pushes Back Toward $1.40 As Its Monthly Rally Pauses


(MENAFN- Daily Forex) XRP Recovers Toward the Top of Its Range Below $1.40EURUSD Chart by TradingView

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XRP has had a strong month, climbing well off the lows that defined its summer. However, the past week has been quieter, with the advance stalling and price drifting rather than pushing on.

Today it firmed again. XRP, the token tied to cross-border payment settlement, recovered off its recent lows and worked back toward the top of its range, approaching the round number that has capped it before. The monthly trend is clearly higher, but the past week is a reminder that even strong runs pause Rallies 27% in a Month but Momentum Cools

XRP has advanced sharply from its summer lows, and it now trades roughly 27% higher than it did a month ago. That run pulled the token back above levels it had struggled with for weeks and repaired a good part of the earlier decline.

The past week tells a different, smaller story. Rather than extend the gains, XRP slipped around 4%, easing back as the rally lost momentum and price consolidated below resistance. Today offered a modest recovery within that pullback, with price climbing off the lows and pressing back toward the highs of its recent range.

The move up was steady but on unremarkable volume, suggesting firming rather than a decisive push. After a strong month, that kind of quiet consolidation is normal, but it leaves the next move still to be proven Price Tests $1.40 Resistance: Key Levels to Watch

XRP is trading near $1.379, up around 1% on the day but still down about 4% over the past week, even as it holds a gain of roughly 27% on the month.

Ripple Price Chart

The session has been constructive. Price bottomed near $1.340 early on, chopped higher through the day, and pushed to a fresh session high around $1.382 late before settling just beneath it.

The levels are well defined. The $1.40 round number sits just overhead as the key resistance, a level that has capped price before and that any continuation would need to clear. Below, the recent range floor near $1.358 is the first support, with the session low around $1.340 beneath it.

XRP is holding near the top of its range rather than the bottom, firmer than it was over the past week but still short of the level that would signal the rally has resumed in earnest XRP's $1.40 Breakout Is Not Yet Confirmed

The easy reading is that a 27% month means the rally is firmly in control and $1.40 will fall in time. That overlooks how the past week has actually behaved. The advance has stalled, not extended, and today's recovery came without much volume behind it, which is the kind of quiet bid that can fade as easily as it formed. A move that cannot attract stronger participation as it approaches resistance often struggles to break through it.

The wider context matters too. Even after a strong month, XRP remains down around 26% for the year and roughly 52% over the past twelve months, and it trades far beneath the peak it set in mid-2025. The monthly gain has repaired real damage and pulled the six-month trend back to flat, but it has not turned the larger picture.

Momentum has cooled just as price nears the level that counts, and that is the tension worth respecting XRP Needs to Do to Break Above $1.40

The constructive case is straightforward. If XRP can clear $1.40 and hold above it with stronger buying behind the move, the past week reads as a healthy pause, and the monthly rally regains its footing, with room to extend higher.

What would make that convincing is volume returning on the break, rather than another quiet drift into resistance that fades. Holding above the $1.358 support on any pullback would keep the recovery intact and leave $1.40 as the level to watch Price Outlook: Can Buyers Sustain the Rally?

XRP is firmer but still capped, holding near the top of its range after a week of cooling. The coming sessions should show whether buyers can push through $1.40 or whether price stalls beneath it and the week's pullback extends toward the range lows.

How XRP handles that round number on its next attempt is the clearer signal of whether the monthly rally still has momentum behind it.

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