XRP rally cools after 55% August rebound
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- XRP (CRYPTO:XRP) fell to $1.4554 after reaching $1.5505 during its recent rebound.
- XRP gained about 55% from its early-August low near $1 before pulling back.
- Technical indicators still show a bearish medium-term trend, according to Decrypt’s analysis.
XRP (CRYPTO:XRP) closed at $1.4554 after reaching $1.5505 during its recent recovery.
The token rose about 55% from its early-August low near $1 before the latest pullback.
XRP also gained 46% over seven days and briefly exceeded a $91 billion market capitalisation.
The 50-day moving average remains below the 200-day average, creating a pattern known as a death cross.
XRP's Relative Strength Index stood at 76.8, above the 70 level commonly viewed as overbought.
Decrypt's analysis identifies $1.5507 as a key level that XRP would need to reclaim for further upside.
The analysis identifies $1.4342 as support, with a break below that level potentially exposing $1.40 and $1.00.
At the time of reporting, XRP price was $1.43.
