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#XRP#
Technical outlook: XRP holds above the critical support level
The price of XRP hovers around $2.14 at the time of writing this report after a slight recovery from support at around $2.09, supported by the 200-day exponential moving average (EMA).
This rebound remains uncertain, especially with the Relative Strength Index (RSI) dropping below the midpoint line of 50 while staying below the downward trend line, as shown in the daily chart below.
The key levels of interest relevant in the upcoming sessions and until the end of the week are likely to include the middle level of the descending channel, which is currently acting as immediate support, and the 200-day exponential moving average at $2.09, which may prevent losses from extending below the critical level of $2.00.
If the geopolitical situation in the Middle East improves and sentiment in the cryptocurrency market generally changes, traders may consider buying XRP and contributing to market support. A rebound from the current price level of $2.14 may redefine the recovery target, targeting the $2.34 barrier and selling pressure at $2.50, representing a 17% rise from prevailing market capitalization.