Hesitation despite average 23% rise in May... XRP's direction at $1.5 is split

▲ XRP/ChatGPT generated image

XRP has entered a critical zone ahead of May, where historical upward patterns and strong resistance levels clash.

U.Today reported on May 2 (local time) that while XRP has historically recorded an average rise of about 23% in May, there is a possibility that the same trend may not be replicated in the current market structure.

According to the report, XRP has been moving within a box range between $1.30 and $1.45 for the past few months, failing to confirm its direction. This range is considered a key area where buying and selling are balanced.

In the market, the $1.50 level is identified as the most crucial resistance. This price point is both a psychological benchmark and a major breakout point in terms of technical structure, and analysis suggests that if it fails to break this level, the upward trend could be limited.

Conversely, if $1.50 is clearly broken, the structure would change, and an upward path to the $1.65 to $1.70 range could open up.

On the downside, the $1.30 level is mentioned as a key support. If this level breaks, a downward path to $1.28 and then to $1.20 could open up.

In terms of trading volume, a strong influx sufficient to confirm an uptrend has not been observed. While the price is holding, buying strength is insufficient, leading to a repeated pattern of resistance hindering each breakout attempt.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*